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Financial concerns? Louisiana boomers may want divorce info

As Louisiana residents grow older, their families likely have many concerns about their well-being. While these concerns may come out of love, they could also seem overwhelming if older individuals choose to make a significant life change. Divorce can not only result in an older couple having many decisions to make, but it could also result in their needing to address their decisions with their families.

Though many individuals may have remained married for the kids, they may no longer feel the need to do so after the children have grown. However, learning of the divorce of their parents or grandparents can cause distress for kids and grandkids, even adult children. They may worry about their parents’ finances, which is a valid concern as baby boomers can face monetary challenges when divorcing close to retirement.

Luckily, individuals can reduce their families’ worries by understanding the financial impacts themselves. Speaking with financial and legal professionals could help them determine how to best approach their divorce so as to minimize negative financial effects. By having this information, parents may be able to explain their plans to their kids and let them know they are prepared for the potential outcomes.

For older Louisiana residents thinking about divorce, gaining the correct information can make a considerable difference. Therefore, they may wish to ensure that they utilize resources that provide reliable and timely knowledge. Experienced attorneys are available to answer questions and help address issues. Interested parties may wish to enlist the assistance of such professionals in order to gain a better idea of what to expect from their cases and how to handle possible financial impacts.

Source: bizjournals.com, “When boomers divorce — what are the financial implications“, Elizabeth Hodges, May 8, 2017

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