Recent studies indicate that the divorce rate among adults aged 65 and older, often called "gray divorce," is increasing, leading to multiple financial setbacks for divorcing retirees and representing a serious threat to both spouses’ financial health.

In a NTD Television Network article, Morghan Richardson discusses the toll standard 50/50 asset splits can take on retirees, adding “In New York, for example, retirement accounts are part of the marital assets and long-standing clear laws support dividing those accounts 50/50 (minus any separate deposits that happened before the date of marriage). This can be devastating to couples who are already in active retirement and using those pension funds, because many times the monthly payments must be split.”

Read more of Morghan’s insights here. 

3 Big Ways Divorce Wrecks Retirement Savings | NTD