Posted on June 25, 2020 in Divorce Over 50

Over the last few decades, the number of gray divorces has doubled. But sometimes when you are 50 or older, the thought of getting a divorce and restarting life without the support of a spouse is not something either of you truly wants. Never is this truer than when the two of you consider your finances and other benefits implicit in your marriage that would disappear upon divorce. It might not always be worth relinquishing all of that financial security due to something as minor as not having much to discuss over the dinner table now that the kids are grown up and out of the house. In those cases, you might want to consider the following alternatives to divorce if you are 50 or older.

4 Alternatives to Gray Divorce

If your marriage is less-than-perfect these days, that does not necessarily mean that you have to get a divorce. You have other options, including:

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 Posted on April 07, 2020 in Divorce Over 50

Divorcing after 50 is not the same as divorcing at an earlier age in many respects. Being so close to retirement age and having so many differences in your lifestyle, outlook, and finances relative to when you were younger makes a difference. Recovering from a divorce after 50 is more urgent and complex. Here are some practical ways to secure your financial future when going through a divorce later in life:

6 Ways to Improve Your Finances After a Gray Divorce

The decisions you make about your finances when you divorce after 50 can quite literally determine the rest of your life—from retirement to death. That is why you need to consider the following issues when divorcing after 50 to ensure your financial outlook is positive:

1. Properly Divide Assets During the Divorce—For the most part, people who get divorced later in life have a much more complex set of assets to divide. From myriad investments and retirement accounts to different types of property obtained throughout your lives, both of your financial pictures can be complicated. That is why you need to be particularly vigilant, careful, and fair when dividing assets.

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 Posted on April 01, 2020 in Spousal Support

Contrary to common belief, even if you and/or your ex-spouse are retired or will retire soon, spousal maintenance (alimony) payments will not automatically stop in Illinois. Depending on the circumstances and the obligations set forth in your divorce decree, the payor might still be required to continue making spousal support payments long after retirement. Here is a closer look at the different scenarios you might face with regard to spousal maintenance after retirement:

Spousal Support as a Retiree

Regardless of whether you are the paying spouse or the receiving spouse, there are essentially three things that could happen to spousal maintenance payments upon retirement:

1. The payments continue—If, upon retirement, the payor’s financial circumstances have not changed drastically and are similar to his or her financial outlook prior to retirement, then spousal support payments will most likely continue. In addition, if the payor argues in court that he or she should no longer have to pay spousal support simply due to retirement or expected retirement, that might not be enough to satisfy the court, and the maintenance may be required to continue. For instance, if the court finds that the payor is retiring earlier than is standard without a convincing justification for doing so, a request for termination or reduction of maintenance might be denied.

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 Posted on April 01, 2020 in Divorce Over 50

More than one-third of Baby Boomers currently unmarried, and many of them have gotten divorced now that their kids are grown up. These days, it is easy to see that dating is no longer just a common practice for young people looking to have fun or looking to find “the one” with whom to settle down and start a family. It might seem challenging and intimidating, but dating after getting divorced in your 60s is possible—and you might even thrive while doing it.

3 Ways Dating After Getting Divorced in Your 60s Is New and Different

The end of your marriage late in life does not mean you will be unable to find a partner. It also does not mean that you have no options when it comes to dating. The truth is, dating after getting divorced in your 60s opens up a world of possibilities for you. However, in order to take full advantage of this potential, you need to prepare yourself for the following new and different aspects of dating, as outlined below:

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