Divorcing Over 50
A “gray divorce” is a term often used to describe couples who divorce over 50. Couples over 50 are divorcing at an increasing rate. According to a publication from the National Center for Biotechnology Information (NCBI), data collected from 1994, 2002, and 2012 showed that “today’s older adults were more accepting of divorce than their predecessors were two decades ago.” Since older adults are seemingly more accepting of a later-in-life split, it makes sense that more older married couples are divorcing. Read on to learn more on how to prepare for a gray divorce.
Steps to Take When Divorcing Later in Life
Starting over later in life isn’t easy. However, if you are over 50 and considering divorce, here are some steps you can take:
- Consult a divorce lawyer - The first step in the divorce process is to consult an experienced divorce attorney. A DIY divorce is never recommended, especially when divorcing later in life means more assets and money that needs to be divided fairly.
- Gather essential documents - Important documents such as tax returns, bank statements, pension plans, stock certificates, and 401K plans, etc. are a critical component to a divorce. The aforementioned are just some examples of the documents your lawyer will need in preparation for your divorce.
- Take inventory of your household possessions - From furniture, computers, and jewelry to family heirlooms and cars, having documentation of the assets you’ve collected over the years can make the process of splitting them up to go a little smoother.
- List your expenses and debts vs. income - In some cases, divorcing couples want to settle debts and handle expenses before divorcing. Make a list of how much you have going out vs. coming in between you and your spouse. Your attorney will advise you who is legally responsible for debts and expenses incurred during your marriage.
Divorcing later in life comes with a unique set of challenges. Staying prepared and getting the answers and support from your lawyer during the process can make the transition go a bit smoother.
Schedule a Case Review With Our Divorce Law Team Today
If you are considering divorce later in life, our team at Ford & Friedman can provide the skilled representation and knowledgeable advice you need to navigate each step of the divorce process. We are dedicated to providing our clients the personalized attention and tailored solutions needed to overcome any obstacles along the way.
Reach out to our law firm today at (702) 904-9898 to request a consultation with one of our divorce attorneys to learn your rights.
Contact Ford & Friedman by calling (702) 904-9898.