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Why late-in-life divorces can cost so much

It isn't unusual for older couples in Minnesota to get divorced. Their reasons vary but may include the fact that some empty nesters find they have little in common after their children are grown. Regardless of the reason, they often have unique concerns when their marriage comes to an end.

Divorce in Minnesota

Divorce can have a dramatic effect on a Minnesota couple's finances. This is especially true for those who make the wrong decisions. While it might be something that people will want to leave to their attorney or financial professional, it is important for them to make sure they understand all the implications and consequences of their decisions.

Bartenders and travelers have highest divorce rates

Minnesota couples may be interested to know that the old stereotype that bartenders have the highest divorce rates might be true. According to data from the 2015 American Community Survey, those who are employed in fields that involve the nightlife or travel, like shipping and transportation jobs, that prevents them from being home for long periods of time are more likely to get divorced than others.

Retirement funds and property division

The issues that cause Minnesota couples to end their marriage often make negotiating the terms of property division difficult. To avoid costly financial mistakes, people must make a conscious effort to examine closely the details of the settlement. The property division phase includes splitting retirement accounts, and mistakes could lead to unexpected tax bills.

Divorce mediation may not always be appropriate

Some Minnesota couples whose marriages are coming to an end consider mediation as a means of reaching an agreement on property division and other matters as an alternative to litigation. But mediation does not always work, and for some couples there could be signs that mediation is not something they should even attempt.

The divorce process

Minnesota couples are most likely to get divorced after the summer season. Divorces are also more likely after other holidays such as Christmas. Those who study the issue say that men tend to view the process in a sterile and efficient manner while women tend to take more time to process their emotions.

Putting a hold on divorce to avoid losing health care

When a Minnesota couple no longer wants to stay together, they can opt to get a divorce. However, some couples are deciding to hold off on going through the divorce process due to the uncertainty of the future of health care in the United States. For example, some individuals are afraid they will not be able to get their own health care insurance when they can no longer stay on their spouse's plan.

What can be accomplished during a divorce

Although many Minnesota residents have some idea of what to expect when it comes to divorce, going through the actual process can be difficult and stressful. Furthermore, the prospect of ending a significant relationship and not getting to spend time with the children every day can be difficult to mentally process. As long as a person is realistic about the divorce, however, there is a chance that they'll be able to move on and be satisfied once the separation is finalized.

Military workers more likely to divorce before they reach 30

Many Minnesota residents who get married end up divorcing by the time they turn 30. While a worker in any field can get divorced, those employed in certain high-stress workplaces may actually be more likely to divorce than others. This is because workplace stress can have an impact on a person's home life.

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