Baby boomers in Arizona and elsewhere may have been reluctant to maintain separate bank accounts and assets while married, but millennials appear to see things differently. As reported by CNBC, more than a quarter of millennials have decided to refrain from setting up joint accounts after getting married.
No matter who you are, divorce is a life-changing event. It is one of the hardest events that a person has to go through and one of the most stressful. This is particularly true when the two of you own an Arizona business together.
You probably know going into a divorce in Arizona that you are not going to walk away with ownership of all the assets you had as a married couple. Property division is a main part of any divorce proceeding.
Divorce is a financially tolling experience regardless of at which age a couple chooses to go through it. However, recent findings suggest that gray divorce — or the phenomenon of splitting up after age 50 — may be particularly devastating to one’s financial health, far more so than if he or she were to divorce at a younger age.
