Divorce After 50

“Fifty-six percent of divorcees and widows discovered new financial wrinkles in the process of splitting up.” For the full article, please click here: https://www.bloomberg.com/news/articles/2018-04-13/rise-of-gray-divorce-forces-financial-reckoning-after-50

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Social Security and Divorce

“In the case of a currently married couple, only one spouse can claim spousal benefits. To do so, one spouse must file for Social Security benefits. Then the other can file "a restricted claim for spousal benefits" on the first spouse's record and collect half of the first spouse's FRA amount while their own benefit grows up to age 70, then switch to their own maximum benefit.” For the full article, please click here: http://www.investmentnews.com/article/20180307/BLOG05/180309941/social-security-and-divorce-mary-beth-franklin-answers-your-questions

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Is Divorce Genetic?

“That the children of divorced parents are more likely, when they grow up, to get divorced themselves is well known. What is not known is how much this tendency is the result of nurture (with children manifesting, in later life, behaviors learned from their parents), and how much it is caused by nature (with children inheriting from divorced parents the sorts of genes that lead to marriage-breaking behavior).” For the full article, please click here: https://www.economist.com/news/science-and-technology/21736124-according-study-adopted-children-genes-play-role-likelihood

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New Tax Law and Alimony

“Currently, alimony is taxable for the recipient but not the payer. The spouse paying the alimony can deduct it from income before the adjusted gross income is figured. (This is known as an "above the line" deduction.) The recipient then pays taxes on the alimony received. Going forward, however, this would be reversed: Alimony will be paid with aftertax dollars, and the recipient will not have to pay taxes on it.” The full article can be found here: http://news.morningstar.com/articlenet/article.aspx?id=844758

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