September 25, 2019 ELDER LAW

Predatory Marriages: A Growing Concern

By Deborah S. Ball and Malya Kurzweil Levin

This article from NYSBA Elder and Special Needs Law Journal, Winter 2018, Vol. 28 , Issue No. 1 is reprinted with the gracious permission of the New York State Bar Association.

Introduction

For many Americans today, older adulthood is a time of increased financial security. According to the Centers for Disease Control, people 65 and older have the lowest poverty rate of all demographics. There are a number of reasons for this phenomenon. Older adults can take advantage of government entitlements such as Medicare and Social Security to buoy their financial security. They may have saved money, often utilizing financial services like IRA or 401(k) accounts, through which funds may only be accessed penalty-free once the individual is a certain age. Additionally, many large expenses like raising children or paying off mortgages have been concluded, leaving older adults with increased disposable income.

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