Special Considerations for Later-in-Life Divorces
Between 1990 and 2010, the divorce rate for Americans over the age of 50 doubled. For many couples ending their marriages later in life, special considerations may factor into a settlement. If you are entering into a divorce as a senior, consider the following:
- Alimony issues: Unlike younger divorcees who may only be required to pay or receive alimony for short durations of time, alimony for couples with long-term marriages may be awarded for the duration of the significant other’s life. This is typically because the couple established relationship roles that may have affected each other’s earnings.
- Your retirement may come into play: Retirement funds are often divided in divorce proceedings in which one spouse does or did not work for an extended period of time. Retirement funds of one spouse may be severely impacted by divorce negotiations, making it critical that you have an experienced family law attorney who can support your best interests.
- Dating should be postponed, when possible: When a couple is married for an extended period of time, their adult children and established social networks may be impacted by the divorce. To avoid tension, it is best to wait until after your divorce is finalized to begin seeing someone new. Waiting to date may also reduce adversarial feelings throughout divorce proceedings, which can reduce the time, money and effort needed to arrive at an agreement.
- Children may need support: Although couples who get divorced later in life typically don’t have to decide on child custody or visitation, it is still important to emotionally — and in some cases, financially — support adult children during the transition. If your grown child has a disability or costly college tuition, you may wish to have payment terms detailed in your settlement.
- Consider a prenuptial agreement: If you choose to remarry after your divorce is finalized, it’s recommended to enter into a prenuptial agreement to protect your assets in the case of a second divorce.
If you would like more information on filing for divorce, consult a skilled Long Island family law attorney with Bryan L. Salamone & Associates.