Divorcing After 50 Comes With Unique Challenges
For older couples, divorce can come with unique issues that are not necessarily the focus of younger divorcing couples. If you are over 50 and considering a divorce, it is important that you choose a lawyer who understands how to address issues related to retirement accounts, Social Security benefits, vacation property, nursing home residence, long-term care options and incapacity. What if you or your spouse have been a long- time homemaker or stay-at-home parent? Could you realistically be expected to enter the workforce for the first time at an advanced age?
Property Division, Retirement Accounts And Social Security Benefits
Pensions, 401(k)s, IRAs and other retirement accounts are subject to division, whether they are in current pay status or not. However, if the retirement account is currently in pay status, special considerations must be taken during the property division process.
While Social Security benefits are not subject to division in the traditional sense, they may need to be addressed during the divorce. Depending on the length of the marriage and the age of the individuals, one spouse may be able to receive benefits based on the other’s Social Security account even after getting a divorce.
At Weinman & Associates, P.C. in Austin, Texas, we can help you address issues related to Social Security benefits and retirement accounts. Our goal is to make certain you get through your divorce with as much financial security as possible.
Nursing Homes And Disabilities
Cases can get particularly complex when one or both spouses reside in a nursing home or care facility, or when one of the spouses is disabled or incapacitated. There may be questions about guardianship and competency, and a plan for care, among other things. Our attorneys have the knowledge and skills to address these unique and emotional issues.
Discuss Gray Divorce With Us
Divorce over 50 is often referred to as gray divorce. Our lawyers have experience handling these cases and the unique challenges that come with them. To schedule a meeting at our family law office, call 512-472-4040 or send us an email.