Issues in gray divorces

On behalf of Stange Law Firm, PC posted in family law on Friday, October 20, 2017.

In Missouri divorce cases involving older people, there may be multiple issues that must be dealt with. People may have spent years accumulating money in their retirement accounts, but the accounts will have to be divided with their spouses.

When people are nearing retirement age and plan to divorce, they may have more difficulty when they retire because of dividing their retirement accounts with their spouses. If they have been married for more than 10 years and divorce, they may claim Social Security spousal benefits based on the incomes of their former spouses if it will be more than what they would receive on their own.

Other property division issues might include who will remain in the home. Like other assets, the marital home will need to be divided if it was acquired during the marriage. In some cases, one spouse may be suspected of hiding assets in order to try to get more in the divorce. If that happens, the other spouse may need to get help from forensic accountants and others to uncover the assets so that he or she receives the amounts that he or she deserves.

There may be other issues involved in divorces of older people as well. People who want to get divorced and who are older might want to consult with experienced family law attorneys. With a lawyer’s help, they may preserve their ability to retire and to avoid some costly errors in their property divisions. A lawyer may work to uncover any hidden income or assets so that his or her client’s financial interests will be protected. Attorneys might negotiate settlements for their clients or litigate on their behalf through court if settlements cannot be reached.

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