Recent studies confirm the increase in gray divorces which refers to divorces involving couples that are older than 50. There has been an increase of 109% from 1999 to 2015 according to this article. Couples in second or third marriages are even more likely to get divorced. Divorce will affect each party’s finances but it can be especially tough on the spouse who may have stayed home to raise children or who earns a low salary. It is critical for these individuals to optimize the division of marital assets in order to meet their future needs. During the divorce process,
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