More people over the age of 50 are divorcing these days. The number has doubled in the past 20 years. Those who have studied the trend call it gray divorce. In 2009, more than 600,000 people over the age of 50 filed for divorce. While it’s becoming more popular than ever, there are a few things people need to consider before initiating the divorce process.
The 1st thing you need to think about is whether or not you and your spouse can arrange to have an amicable divorce, called an uncontested divorce. If you and your spouse can agree to an uncontested divorce, the process will be much quicker, easier, and cheaper than if you can’t agree on a significant part of your divorce.
The 2nd thing you need to consider is your finances. Not only is a contested divorce more expensive, but you and your spouse will likely need to split your pensions and Social Security. This means both of you will probably have less of a retirement cushion to depend on when you retire, if you’re not already retired. During a divorce, you and your spouse will be dividing all marital assets equitably, and older people often have a difficult time being hired for a job. If you need to reenter the workforce after the divorce to supplement your income, you will need to plan ahead for that possibility.
Last, if you have kids, consider their place in the divorce. People who are over the age of 50 typically have children in their teens or early adulthood. Consider whether or not you can wait for a couple of years until your children are legally adults before divorcing. This will make the divorce process much easier by allowing you to skip any contentious custody battle proceedings. Likewise, keeping our children in mind provides opportunities to share in their lives without the tension created by “selfish” divorces.
If you need help initiating a divorce, talk to our skilled Bronx divorce attorneys. The Franklin Law Firm has more than a decade of experience in family law to offer your case. Attorneys King’s goal is to provide aggressive representation at reasonable prices while maintaining a line of open and honest communication with our clients. Let us see what we can do for you and your family.
Contact us at (347) 343-5467 or fill out our online form today.