Divorcing Later in Life & Gray Divorces

Navigating Divorce for Couples Over 50

While divorce at any age can pose many difficulties, late life divorce presents many unique challenges. Simply the fact that you are much more established in your finances and assets makes it harder to properly divide assets in court, as well as get back on your feet after the divorce.

Late life divorce is a specific niche within family law and it takes a qualified team to successfully direct your future. Mathur Law Offices, P.C. is that team. For more than 25 years, we have been effectively representing clients in and out of court. A Dallas divorce attorney from our firm can start working with you today and help you obtain your desired outcome.

Unique Considerations When Divorcing Over 50

It is not uncommon to fear financial instability as a result of late life divorce. After pooling your assets with your spouse for so many years, there can be much uncertainty when you're left on your own.

As you begin pursuing divorce, there are some important things to consider:

• Your home: If you are left with the house, you automatically earn advantages that will benefit you down the road. Your age may elicit property tax exemptions and waivers and you also have the potential for reverse mortgage, which starts at age 62. Keeping the house provides many sources for additional income.
• Social Security benefits: Although Social Security is not divided by the court, it can be helpful to understand the rules as they relate to your income. By meeting certain requirements, you may be eligible to collect retirement benefits on your former spouse's Social Security record, as well as on your own.
• Retirement: Retirement plans can be one of the biggest sources of contention within a late life divorce. A separate court order called a Qualified Domestic Relations order is necessary to divide these benefits. It is important to recognize laws about tax penalties, survivor benefits, loans, and hardship withdrawals before dividing any retirement benefits.
• Estate plans: You should also consider how dividing the estate can affect your wills, trusts, and other estate planning documents for your children or beneficiaries. It's always a good idea to revisit these documents after a divorce.

Our Award-Winning Divorce Counsel Can Help!

You shouldn't have to worry about your future as you pursue late life divorce. Our firm is equipped with the knowledge and guidance necessary to ensure that your needs are met.