Reflecting on Divorce and New Beginnings: Gerry Turner and Theresa Nist
Theresa Nist and Gerry Turner of Golden Bachelor announce their divorce.
The most recent example of the "gray divorce" trend is that of Gerry and Theresa.The Pew Research Center reports that throughout the 1990s, the divorce rate for individuals over 50 has doubled.
The couple reportedly had a prenuptial agreement.This is particularly crucial when it comes to second marriages.What kinds of contents ought to be included in a PreNup?
What unique financial and legal factors make a divorce for this age group look a little different?
1. Fewer, if any, working years left to compensate for a significant financial loss
2. It could take older individuals a little longer to find alternate housing.
3. It's crucial to consider how it will affect your health and long-term care insurance.
4. It's crucial to update your advance directives, trust, and will after a divorce.
Some divorced couples have made the decision to stay together, like Charline McCray and former mayor DeBlasio.
What advice would you give a couple in this circumstance?
Our spouse has some legal rights when we are still legally married, including the authority to decide on medical treatment that could save our lives. It is crucial to update financial and medical advance directives as soon as the decision to split is made.We wouldn't want our soon-to-be ex making decisions in a medical facility or taking money out of the bank.
Changing the passwords for your bank and social media accounts is also a smart idea.
The DeBlasio McCray announcement's declared intention to date other individuals is another peculiar feature.To prevent unpleasant situations, I would strongly advise couples in this circumstance to establish some ground rules.
Former NYS Assemblywoman Ann-Margaret Carrozza is an attorney specializing in elder law and estate planning. https://www.myelderlawattorney.com
Contact Us
21338 40th Ave, Bayside, NY 11361, United States
+1 718–224–4746
