Divorce After Age 50 Presents Unique Challenges
Typically, the divorce rates among seniors are low. However, we have seen a consistent increase in recent years. A senior divorce attorney at our Manhattan Beach law office can help you navigate a divorce after age 50.
We treat our senior clients with utmost compassion and respect. The number of couples divorcing after the age of 50 has more than doubled in the last 20 years. While a senior divorce may seem simpler since young children are not typically involved, there are other factors to consider.
Division Of Property In Senior Divorce
A senior divorce can involve more assets than a divorce between younger spouses. In addition to the division of property, a senior divorce will also involve the division of retirement funds.
The funds in your pension or retirement accounts, which you have spent years building, must be divided between you and your spouse to the extent the retirement was earned during the marriage.
While some couples may expect that whatever amount they have will be divided equally between them, that is rarely the case. The amount you receive from your retirement fund in a divorce is dependent upon what other assets you receive. If, for example, you choose to keep your house, your spouse is likely to get more from the retirement fund to compensate.
Social Security benefits
Social Security is another factor you must take into consideration with senior divorce. Presuming the marriage has lasted 10 years or more, once your ex-spouse reaches the age of 62, he or she is entitled to a portion of your Social Security benefits. If he or she later remarries, he or she is no longer eligible to receive your Social Security benefits. If an unmarried ex-spouse dies, the other can collect survivors’ benefits.
Assistance From Our Senior Divorce Attorneys
In many ways, a divorce over 65 is just as complicated as divorce at any other age. Our attorneys are here to provide you with attentive, precise legal counsel to outline all of the options available to you. This will allow you to make a well-informed decision about your divorce and your financial future. If you and your spouse are having difficulty agreeing on the terms of your divorce, a lawyer can also help you to reach an agreement that protects your best interests.
Contact Rombro & Manley LLP Today
If you are considering divorce after age 50, it is critical that you work with a team of attorneys that can help you maintain your quality of life. Contact our law firm online today or call 310-545-1900 to discuss your options.