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'Muskrat Love' not enough to keep Captain and Tennille together

If you recall the musical duo Captain and Tennille, you probably never would have guessed that the couple would one day file for divorce. The 70-something baby boomers, Toni Tennille and Daryl Dragon, are known for such 1970s hits as "Muskrat Love" and "Love Will Keep Us Together." However, according to an announcement on the couple's website, the uncovering of "hidden feelings" has led to a marital split.

Baby boomers throughout the U.S. can undoubtedly relate. The number of so-called "gray divorces" increased twofold between 1990 and 2009. In fact, a reported 25 percent of couples who get divorced are age 50 or older. 

As will likely be the case with Captain and Tennille, significant assets may have to be considered when older spouses dissolve their marriages. In New Jersey, marital property in a divorce is supposed to be divided equitably and not necessarily straight down the middle. If property division is left up to a court, then the court will seek a fair and equitable distribution based on the evidence provided by the spouses.

In other words, it is a good idea to consult with your attorney to establish a property division strategy that protects your financial interests now and in the future.

According to reports, when Toni Tennille filed for divorce from Daryl Dragon, the documents mentioned something about Dragon's health issues. It isn't clear exactly what those issues are or how they might affect the couple's divorce proceedings, but baby boomers should certainly take such issues into account when negotiating their own divorce settlements.

Source: The Washington Post, "Captain and Tennille, musical duo of the '70s, divorcing after 39 years of marriage," Diana Reese, Jan. 23, 2014

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