Why a Divorce at 50 Can Be More Complicated

The one demographic in which divorces have increased the most is among those who are 55 or older. If you're an older adult and you're thinking about filing for divorce, there might be unique issues you will need to take into consideration. If you don't know where to start with your divorce, it's important to consult with local family law services.

Child Custody Battles During a Divorcee

In most cases, older adults who are going through a divorce will not have to worry about a child custody battle because their children will likely be older. However, there are some cases where older adults have children late in life. If so, you may need to consult with a child custody lawyer.

Property Division During a Divorce with Older Adults

You and your spouse are likely to have a lot more property that you will need to divide. You may have valuable personal property such as jewelry, one or more properties, and retirement accounts.

Retirement accounts in particular can be complicated to divide because there is a penalty if you withdraw early from your 401k or your IRA. There might also be different rules for pensions. Therefore, you and your partner might need help from a family lawyer when dividing these assets.

How to Avoid Mistakes When Divorcing Over 50

You should always create an inventory of assets, accounts, and life insurance policies. Otherwise, it may be more difficult and expensive to go through the divorce process and you might even be accused of hiding assets.

Decide Whether to Keep the House

If you have been married for a long time, you might have a lot of sentimental feelings that have built up as a result of living in your house for so long. However, one of the primary reasons for keeping a house is to avoid being disruptive toward your children. However, if your children are already older and have moved out, this is not as much of a factor.

Keeping the house can be very expensive. If you live in a large house, you may even feel like downsizing, later on, to move into a smaller and more manageable house. You will simply be able to sell the house and split the profits. However, if you have any questions about your divorce, it's important to always consult with an attorney who can give you personalized legal advice on the effects of each decision you might make.