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Prenuptial agreement may help with late-in-life divorce

When individuals in Pennsylvania marry early in life, they often expect to stay married for decades. Because divorce is not readily on their minds, they might not think about drafting prenuptial agreements. However, drafting a prenuptial agreement may especially be expedient if two people with significant assets are getting married later in life.

More millennials preparing for likelihood of divorce with prenups

The marital breakup process in many cases is inevitable, and it is often painful for those involved. For this reason, it may not come as a surprise that more millennials in Pennsylvania and elsewhere are opting to develop prenuptial agreements, or prenups, before they get married. In fact, new research indicates that more than 50 percent of attorneys recently saw a rise in these types of agreements among millennials, as members of this generation are increasingly interested in protecting themselves in the event of divorce.

Bad decisions can haunt a person financially years after divorce

In addition to fighting over the children, fighting over shared assets is a common occurrence during the marital breakup process in Pennsylvania, no matter what a couple's net worth may be. Unfortunately, if a divorcing spouse makes unwise decisions when tackling shared assets, this may come to haunt him or her long term. Two decisions in particular can have ill effects that last years following a person's divorce.

Divorce does not have to destroy the family

Sometimes, getting divorced is inevitable if two married individuals have irreconcilable differences. However, the divorce process does not necessarily need to destroy the family members' relationships. Here are a couple of steps that divorcing spouses can take to minimize the hostility often associated with divorce in Pennsylvania and elsewhere.

Divorce process can indeed be amicable

The dissolution of a marriage in Pennsylvania can understandably be a lengthy and emotionally exhausting process. For this reason, two divorcing spouses can quickly become hostile as they try to settle their divorce. However, two tips might help these parties to make their breakup as quick and amicable as possible.

Debt issues can easily spark divorce

A variety of problems can lead to the end of a marriage in Pennsylvania, but in many marital breakup cases, money is the root cause. Specifically, debt is the issue that drives the two spouses apart. Unfortunately, when two people fight about money during their marriage and thus decide to divorce, money can remain a major source of conflict during their divorce proceeding, too.

Postnuptial and prenuptial agreements offer help during divorce

When two individuals decide to marry, they generally expect their marriage to last a long time. The reality, though, is that financial problems may quickly cause the marriage to break down. This is why many couples in Pennsylvania are now creating prenuptial agreements before they say their I Do's. For currently married couples who never put together prenuptial agreements, however, there is still hope. They can create what are called postnuptial agreements, which can help them to protect their financial interests in the same way that prenuptial agreements can during divorce.

Divorce can have a silver lining, too

In the United States, including in Pennsylvania, people generally dream of getting married and living in marital bliss long term. This is why divorce can be so painful: it is the opposite of the American dream. Unfortunately, between 40 and 50 percent of Americans who are married end up getting divorced. However, divorce can certainly come with positives as well.

Parents can help to minimize negative effects of divorce on kids

Breaking up with a spouse in Pennsylvania is undoubtedly a difficult event for an adult to experience. Still, just as adults can be negatively impacted by divorce, children can also experience the negative effects of divorce. Fortunately, parents can help to mitigate these negative effects in a couple of ways.

Divorce presents unique challenges for those above 50

The rate of marital dissolution today is relatively high for individuals under age 50. However, the rate of divorce for people over age 50 has doubled since the early 1990s. Although divorce in Pennsylvania can certainly be tough both financially and emotionally at any age, those who are going through divorce later in life face unique challenges compared with their younger counterparts.

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