Careful Social Security Planning is Critical in Senior Divorces
Asset valuation in a late-in-life divorce situation needs to take into account the value of spousal benefits, an area that tends to be often overlooked. Most settlement calculations focus on defined assets, like cash on hand, property values, and vested pension benefits, with spousal benefits typically not given much thought. It’s certainly a complex issue, but given the potential for disparity between spouses’ benefits, it can often become the basis for an equalization provision in the divorce agreement. David T. Mayes, a Certified Financial Planner and IRS Enrolled Agent at Bearing Point Wealth Partners, Inc., provides insights on this topic in an article posted on fosters.com. Read the article here…