Knowing the value of your spouse’s 401(k)?
In this article published in Bloomberg News, Lili Vasileff contributes to a discussion of the state of information sharing in marriages — especially when it comes to financial details. Lili says, ‘‘Most couples don’t share fully financial details about private accounts, the nature of investments, or the amount of savings.\”
As Baby Boomers approach the last hurdle before the magic retirement age of 65, it is becoming increasingly newsworthy that growing legions of older Americans are untying the marital knot.
Why baby boomers are divorcing at a stunning rate
Lili Vasileff is quoted in a recent article by Angela Moore for Market Watch on why older couples are deciding to divorce in record numbers. Lili says, “What’s pushing gray divorce is people are living longer and they feel more entitled to living fully. They’ve contributed to raising children, they want an emotional journey, it’s their time now. They may have decades ahead and don’t want to be unhappy anymore.”
Necessary Conversations About Divorces
Listen to Mandy Walker interview Lili on Blog Talk Radio Nobody likes to talk about their debts and it’s often the hardest part of negotiations
“As a Baby Boomer approaching retirement, let us assume that you and your spouse have been fiscally responsible for most of your lives. But what happens when one household now unexpectedly divides itself in two with a late in life divorce?”
As you approach your golden years, you realize you may be heading toward divorce. Now you start asking questions: how does one start the process, how much is it going to cost, and how long does it take?
How to avoid mistakes dividing up 401(k) assets in divorce
Divorcing couples can face enough agony as it is dividing up possessions and agreeing on custody of children, let alone splitting retirement assets.
Yet that nest egg often represents a divorcing couple\’s largest pot of money. And if the process for the division of those assets is not done properly, there can be a steep price to pay in taxes, penalties or an unintended amount of money going to an ex-spouse.
Married, so should you have your own slush fund?
In this article by Jean Chatzky for Fortune.com, Lili Vasileff contributes to the discussion of recent research that finds many more men than women have bank accounts or credit cards that their spouse or live-in partner don’t know about. Should a married woman have a slush fund…a stash of cash that her spouse doesn’t have access to and maybe doesn’t even know about?
Five money actions to take in advance of declaring ‘I do’
In the 14 months leading up to their wedding last September, Howard Gutman and his fiancé did what many other engaged couples do. They got down to the business of choosing a venue and hashing out other wedding-related details.
How to Manage Household Records and Documents
Every household must work out its own records management system, but some general guidelines can help. A good system will provide an overview of what happens to property after a major life event occurs. Lili offers her advice in her latest blog post…
