Fort Lauderdale, FL- Divorce is an unavoidable reality for many American couples, and it was once something only younger couples did, but times are changing. In 2016, baby boomers are a growing demographic of couples who no longer want to stay in their marriages for a multitude of reasons. However, divorce is more complicated when a couple is older, so USAttorneys wanted to address some of the common issues with gray divorce.
In a past study, researchers from Bowling Green University found that divorces among the over 50 group doubled between 1990 and 2010. In 1990, one in ten older couples got a divorce, but by 2010 one in four older couples divorced.
If you are in your 50s or older, and you are getting a divorce, we recommend you speak with a divorce lawyer in Fort Lauderdale to explain what a gray divorce entails. Your legal representation will explain the process and do what it takes to protect your interests.
No matter what the age of a couple, divorce is problematic, but divorcing as a baby boomer can be even more complex. We’ll discuss a few reasons why below:
More assets to divide- couples in their 50s and up typically have more assets than younger couples and dividing them can be a long and drawn-out process. If you retain an attorney, they will make certain that all of your assets are distributed fairly, and you are awarded the ones you believe you are entitled to receive.
Retirement accounts- older couples depend on retirement accounts, social security, 401Ks and trust funds to pay for their daily living expenses. Contributions to these accounts are made over the years by each spouse in varying amounts, so dividing up and valuing each spouse’s contribution to retirement accounts can exceedingly difficult for the average person.The divorce lawyers at King Lindsey will go the extra mile to protect your financial interests.
Health insurance is an issue for all couples, but the stakes are much higher for a divorcing senior who suffers a chronic condition that requires regular medical care. A divorce can lead to skyrocketing insurance premiums and higher deductibles if you don’t have someone who understands the law on your side. Your legal counsel will try to keep your divorce from affecting your health insurance, so you don’t experience a lapse in care.
For a younger couple, divorce doesn’t always herald financial hardships, but for a senior, divorce can be financially devastating. If you are a baby boomer and getting a divorce, USAttorneys recommends you retain a divorce lawyer in Fort Lauderdale to advise you and ensure you get the best possible settlement.
Getting a gray divorce doesn’t have to be painful and it won’t be if you get the help of an expert. Before you file for divorce, we recommend you contact the law offices of King Lindsey in Fort Lauderdale to get the advice and assistance from one of their skilled divorce attorneys. You can reach the King Lindsey divorce law firm by calling (954) 867-6518 and set up a case evaluation.