Divorce Among Seniors Presents Unique Challenges
Divorce is a possibility in any marriage, but in the past, it was fairly rare for elderly couples to divorce. These days, however, more and more retirees are divorcing after having spent much of their life together. While there are serious emotional, financial and logistical concerns to deal with in any divorce, these issues can become even more complicated for couples going through a late-life divorce.
These divorces, also referred to as grey or silver divorces, are often brought on by retirement. A couple who has spent most of their life apart during the day on weekdays suddenly find themselves sitting around a house together with no shared interests or activities.
In these cases, couples may choose to divorce so that they can spend the rest of their lives in a situation that makes them happy. The problem is that divorce can be an expensive prospect. When younger couples end their marriage, they typically have time to build their finances back up and save for retirement. However, when those near or above retirement age divorce, they are often stuck with the assets they already have and any pensions or benefits they have earned. Couples typically spend and save based on the costs of a single household, so the sudden prospect of using one budget to pay for two homes — and two separate lives — can be overwhelming. While alimony, also called spousal support, is never guaranteed, it is almost always awarded in cases involving the elderly, especially when one spouse is still working.
Difficulty often arises for seniors as they seek to divide their assets. Divorce often means that the marital home will either be given to one party or sold. This means giving up equity, security and a lifetime of memories.
If you are considering ending your marriage, the compassionate and experienced family law attorneys at Jakubowski, Robertson, Maffei, Goldsmith & Tartaglia can help you understand your options and alternatives. We serve clients throughout Long Island.