You and your spouse have probably set aside money for years to fund your retirement. Filing for divorce will inevitably impact those retirement savings. Some people have to spend money set aside for retirement to cover the cost of divorce.
Even those who can absorb divorce expenses without tapping into retirement savings will usually have to split retirement accounts and pensions. The community property laws in Texas give each spouse a claim to retirement savings and pension benefits accrued during the marriage.
When you file for divorce close to retirement age, you will want to be proactive about protecting your plan for retirement. Taking the two steps below will help you figure out an estimated budget for your post-divorce retirement.
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