If you are considering a divorce later in life, you may be encouraged to find out that it’s not too late to start over. Many Baby Boomers in Clinton Township and elsewhere in the country are ending their marriages – much more than in years past, states an article from TIME magazine. Divorce later in life is known as a “grey divorce.” As divorce becomes more acceptable and accessible to people of all ages, seniors who may have lived for years in unhappy marriages are realizing they can move on. At The Law Offices of Lorrie J. Zahodnic, P.C., we have experience handling the unique challenges you may face in a grey divorce.
Property division is one aspect of a later-in-life divorce that is often different from divorce among younger couples. If you’ve been married for several decades, chances are you’ve accrued significant marital property. This might include a vacation home in addition to your family home, vehicles, business assets and savings accounts. You may also have to consider dividing pensions and retirement plans, including a 401(k).
Many older divorcing couples have more financial stability today than they might have had several years ago. If this is the case for you, it may have given you the courage to leave the marriage, knowing you would still have the means to support yourself. However, it is still in your best interests to make sure your marital assets are divided fairly. To learn more about the challenges presented with property division, click here to visit our page. There, you may find more information that can help you plan your next move.