Divorce Over 50: Seven Ways To Come Out Relatively Unscathed And Ready To Move On

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Divorce Over 50: Seven Ways To Come Out Relatively Unscathed And Ready To Move On

5 September 2017
 Categories: Law, Blog


While divorce is not usually a pleasant experience for anyone, it can be more difficult for people over 50. You're closing in on retirement, likely own a lot more in assets than your much younger counterparts and might not feel as flexible in life as you did years ago. Here are seven helpful ways to face the upcoming changes and get through them more intact than not.

1. Give Yourself Time And Space To Think

Most especially if you've been married to your spouse for a considerable amount of time, life is about to become very different for you. It's important that you give yourself the opportunity to absorb what's going on and to truly understand what you want to come of it. You'll likely have many different people offering you all kinds of advice, but ultimately, you're the decision maker here and as such, need the ability to think clearly and choose for yourself what steps you should take.

2. Approach The Divorce Amicably, If Possible

Even if you're seething mad at your spouse at this time or have long-held anger built up inside of you, an amicable divorce is better for everyone, including you. If there's any path toward a civil and amicable divorce, without compromising yourself in any way, take it. You'll save yourself a lot of stress and hurt in the near future, along with abbreviating the often complicated divorce proceedings.

3. Hire Your Own Divorce Attorney

While you want to be the one making the important decisions that will affect you and the separation, you obviously need a good divorce lawyer on your side and from a completely different firm than the one your spouse is using. Don't accept a simple recommendation from friends, either; do your own research and base your selection on the criteria that you decide, along with possibly accepting a referral, so long as the attorney fits your personal and legal requirements. You'll need to start working on some type of information packet for your divorce lawyer, too, consisting of all the information they need to work in your best interests. Write things down as they come to you and build on your info according to the instructions of your lawyer.

Some things you may want to start thinking of including now are as follows:

  • Divulging everything you know about debt and credit cards, so you only pay your fair share of debt.
  • Listing all assets, including ones your spouse may only own jointly with other parties.
  • Forming a general idea of what you expect from the divorce, from items in your home to retirement funds and everything in between.
  • Making custody arrangements for minor children and even family pets.
  • Documenting the reasons for divorce, especially if it's over an alleged fair or some other type of misconduct, as you may need evidence moving forward.

This list will probably be difficult to put together, especially considering the loss you're currently experiencing; however, your divorce attorney needs to know practically everything about the marriage, in order to get the best results for you in legal proceedings.

4. Don't Be Sentimental When It Comes To The Family Home

Although you may be entitled to the home or want to obtain it outright in the divorce, think about the long-term costs and inconveniences of keeping it up yourself. From taxes to maintenance and in consideration of many other issues, having the house may not work out well for you. Even if you've many memories and a deep fondness for the home, moving on may still be the better option and your lawyer can help you work this important issue out.

5. Consider The Tax Ramifications Of Your Divorce

Your divorce could have a significant impact on your tax status, including penalties and divisions on your existing retirement funds and other assets. Alimony payments, for example, can be structured in different ways so as to avoid less favorable taxation. Alimony you might receive in the future is considered taxable income by the Internal Revenue Service and likely a deduction if you're the one paying it and you should know how that's going to work now. Ask your divorce attorney about a tax strategy, or to recommend an accountant who can plan one for you. Either way, it behooves you to go into the divorce proceedings with a clear picture of all taxation ramifications.

6. Keep Yourself Protected With Health Insurance

Sometimes health insurance gets lost in divorce proceedings, but if you've been covered for years by your spouse's policy, you need to take a serious look at how you're going to remain covered once the divorce is final. Although spousal health insurance may carry over for a short period (or not), make sure you address this issue with fervent independence, to ensure maximum protection.

7. Start Planning Your Future Now, To Have More To Look Forward To

Aside from the emotional tornado of the divorce running right through your life, you owe it to yourself to start looking toward a positive and productive future once the legal proceedings are over. Ideally, where do you want to live? Do you have aspirations of a career change? How about finally starting a hobby that may have been left on the back burner for decades? In a sense, you'll have some new and amazing individual freedoms and if you plan on taking advantage of them, you'll be giving yourself some amazing things to look forward to.

This process isn't going to be easy, but with a capable divorce lawyer by your side and a clear head, making decisions in your own best interests, you'll get through and hopefully, face a much brighter future than you may realize right now. For more information, contact a firm such as Karen Robins Carnegie PLC.