Protecting Your Assets When You Pursue Divorce Later In Life
Divorces later in life, sometimes called gray divorce, are becoming more common. You may have postponed your divorce until later in life intentionally. Changes in life may have made your marriage unsustainable. You may be experiencing the dissolution of a second or third marriage. Whatever the reason for pursuing a divorce, navigating this challenging life change can require experienced legal counsel.
For over 180 years, Higgins, Roberts & Suprunowicz, P.C. has been representing the family law concerns of clients in Schenectady and the surrounding area. We will help you negotiate a favorable outcome for your divorce and defend your interests during arbitration, mediation or litigation if necessary. Our compassionate and skilled attorneys will work to ensure that you come to an agreement that keeps your future secure.
The Unique Challenges Of Divorcing Later In Life
Divorce is always a complicated matter both emotionally and financially, but gray divorces include added complexity because of the length of the marriages involved and how close the couple is to retirement. These additional challenges include:
- Retirement savings. When you have saved for retirement, a divorce will require dividing assets like your pension, 401(k)s and IRA accounts. An attorney can help you navigate these guidelines for each of these forms of retirement savings.
- Property. A long-term marriage often involves many joint assets including investment portfolios, real estate and family-owned businesses. The division of these assets will usually require more extensive negotiation.
- Social security income. You or your spouse may be eligible for spousal social security benefits after the divorce.
- Spousal support. Spousal support, sometimes also called alimony, is often granted in gray divorces. The length of the marriage, your age and your health will be taken into consideration.
Skilled legal counsel can help you negotiate the division of your assets at the end of your marriage and ensure that all necessary details like changing beneficiaries have been considered. Our attorneys have decades of experience serving family law clients in New York, and we are prepared to put that knowledge to work in your divorce.