Divorce is never easy, but the divorce of a long-married couple can be especially hard, particularly when it comes to retirement and estate plans. Assets, including retirement accounts, can be hard to divide, and the presence of children—and possibly grandchildren—can require the wholesale revision of existing estate plans.
If you’re divorcing or moving on to a second marriage, it’s important to work toward the fair and accurate division of assets, including retirement funds, so you don’t wind up facing a shortfall later in life. You’ll also need to update estate plans to make sure your wishes—no matter what your marital status—will be honored when you pass.
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