Getting Divorced At An Older Age Can Be Complicated
Can Children Decide Who They Live With?
Getting divorced at any age is not something anyone wants to go through. Unfortunately, sometimes it is the best route forward for everyone involved. The process of separation is complicated. One thing can make divorce even more complicated – getting divorced at an older age. While the divorce rate for younger couples has decreased, the rate has actually increased among those over 50 years of age. This has been dubbed “gray divorce,� and can present an entirely different set of challenges for those splitting up and the courts.
At the Law OfďŹ ces of Stephanie L. Mahdavi, you can count on having an experienced Westlake Village divorce lawyer by your side to get you through this. You need an advocate, someone who will ďŹ ght for what you deserve at every step in the process.
What Is At Stake? Getting divorced at any age is not something anyone wants to go through. Unfortunately, sometimes it is the best route forward for everyone involved. The process of separation is complicated. One thing can make divorce even more complicated – getting divorced at an older age. While the divorce rate for younger couples has decreased, the rate has actually increased among those over 50 years of age. This has been dubbed “gray divorce,� and can present an entirely different set of challenges for those splitting up and the courts.
Late in life divorces or gray divorces, are especially difďŹ cult because they are typically longer marriages. This makes a difference when it comes to most areas of a divorce proceeding. No, you will likely not have to deal with issues of child support and child custody. However, couples who have been together for a long time typically have more facets of their lives intertwined.
In California, the courts want to ensure that a couple’s assets are distributed equally. Consider the following:
Joint retirement accounts
Other real estate and property
Pensions of one or both spouse
Vehicles
Checking and savings accounts
Furniture and appliances
The marital home
Any debt that is outstanding
All of these need to be settled in a divorce settlement. What many people may not think about are the potential tax implications of splitting assets, particularly before the age allowed. For IRAs, pensions, 401(k)s, and other retirement accounts, there is typically a penalty for early withdrawals. When most married couples are planning retirement, they do so under the assumption that they will be maintaining one household. In a divorce, there may not be enough to maintain both couples. The earning potential for those involved in late in life divorces is much lower. One or both parties may have to adjust to a different lifestyle than they are accustomed to or potentially have to reenter the workforce.
What You Can Do Now Divorce is not easy for anyone to go through, particularly people at an older age. This was not how you planned on things happening and you need someone by your side who will fight to ensure that you are treated fairly. At the Law Offices of Stephanie L. Mahdavi, you will have a qualified and experienced Westlake Village divorce attorney by your side.
Contact Law OfďŹ ces of Stephanie L. Mahdavi A Professional Law Corporation
Address:
4530 E Thousand Oaks Blvd, Suite 200 Westlake Village, CA 91362
Phone:
Website:
805-379-4550
https://www.slmfamilylaw.com/contact/