Divorcing Later in Life
Sept. 5, 2022
Divorce is quite common in Louisiana and across the United States, but it is not only limited to young couples. Just like younger couples, older couples also divorce later in life for different reasons. These include unresolved disputes, financial pressures, betrayal, infidelity, or desire for greater independence. However, when thinking about getting a divorce later in life, there are some crucial things to know.
At the Law Office of Ivy L. Graham, we have a team that provides knowledgeable legal advice and loyal advocacy to seniors and older couples in the legal matters of late-life divorce. Our competent Louisiana family law attorney is available to discuss your distinctive circumstances and inform you about the critical considerations when divorcing later in life. We're proud to serve clients across Denham Springs, Albany, Colyell, Holden, and Livingston, Louisiana.
Common Reasons People Divorce Later in Life
A late-life divorce – also referred to as grey divorce or silver divorce – is a marital dissolution or divorce between couples who are 50 years or older. Seniors and older couples may file for a late-life divorce due to the following reasons:
Lack of attention or communication
Unresolved disputes and disagreements
Regrets about earlier life choices
Retirement
Lack of physical or touch intimacy
Betrayal or major disagreement, which causes the couples to drift apart
Desire to achieve greater independence or live independently during their later years
Active addictions or alcoholism
Conflicts in values
Differences in lifestyle choices
Reluctance to accept or deal with the consequences of aging
A life-changing experience such as a health scare, critical illness, or death
A proficient lawyer can help you understand some essential matters concerning silver divorce, as well as the vital things to consider.
What You Must Consider
Here are some crucial things to consider when filing for late-life divorce:
Division of Property: Property division in decade-long marriages usually involves a lot of complexities. You may face various challenges when trying to differentiate between separate property and marital property. Similarly, you may find it difficult to determine the actual value of retirement assets. As a result, asset division in silver divorces is often complicated, daunting, and time-consuming.
Retirement Benefits: Older adults going through a late-life divorce must also consider the type of retirement accounts they operate and the associated rules. Due to the complexities involved in dividing retirement benefits, getting a separate court order may be necessary.
Spousal Support: Spousal support or alimony remains another important aspect of getting a late-life divorce. Due to old age, the potential paying spouse may have limited resources or income to pay alimony. Similarly, the potential recipient spouse may be too old to learn a skill or seek a new job to become self-supporting.
Social Security Benefits: Additionally, older couples must divide their Social Security benefits when getting a silver divorce. To achieve an equitable division of your Social Security benefits, you may retain an experienced tax professional or financial analyst.
Estate Planning: Finally, consider reviewing or changing your estate plan – including powers of attorney, retirement plans, advanced directives, and beneficiaries – before divorcing later in life. You may need to do this if you want to remove your estranged spouse as a beneficiary or from a designated role. Above all, ensure that the new modifications are in line with your current wishes.
A knowledgeable family law attorney can guide you through the complex procedures involved in divorcing later in life and help you avoid costly mistakes.
Mistakes to Avoid
When filing for divorce later in life, you should avoid the following mistakes:
Holding on to the family home
Failure to identify all marital assets
Failure to plan for the future
Overlooking the effect of your health insurance
Forgetting about taxes and tax consequences of your assets and financial decisions.
Going through the divorce without a dependable financial, legal, and support team.
A trusted Louisiana divorce attorney can offer you the detailed guidance and support you need to avoid any of these potential pitfalls and help you make intelligent decisions that will be in your best interests.
Get Trusted Legal Action Today
Filing for a silver divorce in Louisiana often involves delicate emotions and various complexities. On the positive side, divorcing later in life can be liberating and can help you achieve the greater freedom and independence you desire during your later years. An enthused family law attorney can examine your available legal possibilities and help you navigate decisions in your late-life divorce.
At the Law Office of Ivy L. Graham, we have the resources, proficiency, and awareness to advise clients through the complicated procedures involved in grey divorces. Our team will attempt to work meticulously with all parties involved to settle late-life divorce issues – including alimony, retirement, asset division, estate planning, and Social Security – amicably and help you move forward quickly. Contact the Law Office of Ivy L. Graham today to schedule a straightforward case evaluation with a loyal divorce lawyer. Our firm proudly serves clients across Denham Springs, Albany, Colyell, Holden, and Livingston, Louisiana.