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Divorcing after 50

Child custody is often the primary concern for younger people who are divorcing. When Texas couples in their fifties consider divorce, they may find that their financial assets become the focus. While younger couples are staying married more frequently, the divorce rate for people over fifty has almost doubled since 1990. By the time people reach that stage in life, they have often reached a pinnacle of their careers, have accumulated a good amount of savings, investments and real estate, and have retirement plans to fund.

With this in mind, it is a good idea to look at the issues in divorce that may arise such as a dispute over the division of a retirement fund and to get legal help to untangle these issues in the divorce case. The couple needs to make a complete listing of assets and debts with an eye to preserving, and even growing assets to account for the income each partner will need after the divorce.

Women usually see the biggest drop in income and it is imperative they take steps to ensure they will live comfortably. While there may be sentimental value in keeping the family home, downsizing might make more sense than keeping it. Making up a deficit in income to meet living expenses might also be possible by finding another source of income or by investing funds wisely.

Dividing retirement funds can be difficult because of all the laws and financial regulations that pertain to them. Hiring a family law attorney might be a useful for a divorcing spouse. The legal details of asset division, spousal payment and settlement negotiation are concerns with which a lawyer may be able to help.

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