Gray Divorce Services in Portland
Statistics now show that married couples over the age of 50 are seeking divorce at a higher rate than ever before. In fact, they are twice as likely to get divorced as people in the same age bracket 20 years ago. If you are seeking a divorce and are over the age of 50, there are several considerations that must be addressed that are unique to this age group, including division of larger amounts of assets, health insurance considerations, retirement plan arrangements, and more.
Unique issues in divorcing after age 50 may include:
- Property Division: Lengthier marriages can mean more complex divorces. Equitable division of assets can be more challenging for couples who have had a longer time to accumulate both marital and separate property. An attorney will take into account how close both spouses are to retirement as well as the length of the marriage.
- Insurance: Spouses divorcing later in life will have different concerns than younger couples. Health and life insurance are two important factors to consider. If one spouse relies on the other’s insurance plan and cannot afford insurance on their own post-divorce, it may be worth considering a legal separation instead of a divorce.
- Income and Spousal Support: Spouses will have to consider the source of their income after a divorce. One or both spouses may have to go back to work, split a fixed retirement income, or either pay or receive spousal support.
- Long-Term Considerations: Older couples may have long-term considerations to think about, including plans for long-term care, estate plans, and more. After divorce, these decisions may need to be modified.
- Competency: Older adults may face accusations that they are not able to represent their own best interests. An attorney at McKinley Irvin may be able to prove that our client is competent or protect the rights of the non-competent party.
- Retirement: Equitable division of assets can be challenging, especially when it comes to retirement plans. If you are worried that your retirement fund will be diminished by divorce, our attorneys may be able to help you increase your savings or modify or delay your retirement.
- Social Security: Some spouses are entitled to his or her ex-spouse's Social Security benefits. This is contingent on the length of the marriage, income, and remarriage.
Consult with a Portland Divorce Lawyer
Divorce is a big decision that should not be entered into lightly, especially for long-term marriages. Our firm is here to help guide you through this process. Backed by decades of legal expertise, our firm is widely regarded as one of the best sources of divorce and family law representation in the region.
We invite you to contact our office to schedule an appointment to discuss your case.