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Guide To Gray Divorce
At any age, going through a divorce is difficult. For individuals age 50 and older, divorce often presents additional considerations that must be carefully and appropriately addressed. If you are in your 50s or 60s and plan to file for divorce or learn that your spouse recently filed for divorce, it is important to understand how divorce may affect your finances and your retirement plans.
At Jacobson, Julius & Harshberger, our family law and divorce attorneys understand the unique issues that individuals who choose to divorce later in life may face. We thoroughly review your case to identify and mitigate potential problems and tailor our strategy to address your needs and achieve your specific personal and financial goals.
How Is Gray Divorce Different?
If you are nearing or already in retirement, your financial situation is much more established than someone who has 20 or 30 more years to work, earn income and invest. It is imperative, therefore, that you work with an attorney who has experience with gray divorces and the financial acumen to understand how the decisions you make today, can affect your quality of life.
In addition to the general division of assets and debts, matters to address in gray divorce include:
- Division of retirement accounts/pensions
- Insurance considerations
- Estate planning matters
- Social Security issues
- Income sources
- Spousal support payments
One benefit of gray divorce is that child custody matters are rarely an issue. That is not to say, however, that divorcing later in life is any less emotionally taxing. When it comes to divorce and dividing assets, it is never wise to make decisions based solely on feelings or emotions. Allowing nostalgia or guilt to guide your decisions can lead to financial difficulties and a much different retirement than you planned.
Contact An Attorney Today To Discuss Your Divorce After 50
To discuss your divorce case with an attorney at Jacobson, Julius & Harshberger, call a family law lawyer at 717-260-3127 or contact us online. We are committed to your case and to ensuring that you receive a divorce settlement that provides for your future financial security.