Florida Divorce Late In Life: Issues To Consider

According to a recent article in the Wall Street Journal

, divorces among people ages 50-64 have reached the highest levels in history. Dubbed Gray Divorces, the journal speculates that these divorces have become far more common because aging boomers look upon marriage as something that is supposed to bring self-fulfillment rather than as an economic partnership or as a situation where each party has a role to play. With people living longer than ever and the aging population taking the time to consider whether they really want to spend the rest of their lives with their spouses (especially after children leave), it is important for those considering a gray divorce to understand the impact that divorce will have at this stage of life.

If you are considering a Florida divorce and you are in your 50s or older, it is very important that you speak with an experienced Florida divorce lawyer as soon as you begin contemplating ending your marriage. Your Fort Lauderdale divorce attorney will help you to understand the special issues that arise when you get divorced when you are older. For example:

* You likely have many more marital assets if you are in your 50s or older and have been married for decades. The length of the marriage is one factor that goes into dividing up your marital assets under Floridas equitable distribution rules, so the longer you have been married, the more complicated things can become. A Fort Lauderdale divorce attorney can help you to explore options for negotiating a divorce settlement on your own with your spouse, rather than spending the time and money to have a judge untangle complex issues of marital assets.

* You will need to take care of you retirement when you get a divorce later in life. One spouse may be entitled to a portion of the pension of the other spouse, or may be entitled to collect a portion of social security payments through the other spouse. Dealing with retirement accounts that cannot simply be cashed in and divided can be extremely complex. A Fort Lauderdale divorce lawyer can help you to understand options, including a QDRO (qualified domestic relations order).

* You will need to decide on payments for college for your kids. If you are divorcing when your kids are 18 years old (or close to it), then there is a good chance that youll be ending your marriage just at a time when college tuition is due. Be sure to work out who pays- if either parent will- in your divorce settlement agreement.

* You will need to consider health insurance issues. The older you are when you get divorced, the more likely it is that you have some type of health ailment or pre-existing condition. If you are covered under your spouses coverage and you are divorcing, you may lose that coverage after a while and you may have to pay to keep it active under COBRA rules after the divorce. Be sure to factor in the cost of obtaining health insurance during your divorce settlement, and be sure to find out the rules for staying on your spouses policy for a certain time after the marriage is dissolved.

These are just a few of the special issues that can arise if you divorce when you are older. To learn more or for assistance with a gray divorce, contact a Florida divorce lawyer as soon as possible.

by: Jeff Miller

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