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April 2015 Archives

Changing beneficiary designations during a divorce

When a person in Alaska decides that they want to get a divorce from their spouse, they should be prepared to update their beneficiary designations. According to a personal finance blogger, many often forget to change their designations prior to filing for divorce; once the divorce petition has been filed, the designations cannot be changed until the divorce has been finalized.

Older individuals who divorce face higher poverty risks

Couples in Alaska who are over the age of 50 and who are considering ending their marriage should take steps to protect their finances. Divorce is on the rise for people who are older than 50, but divorced people are also more likely to end up in poverty than their single counterparts. While only 4 percent of couples over the age of 62 live in poverty, 14 percent of divorced men and 30 percent of divorced women in that age group are at or below the poverty level, according to recent research.