Once a marriage starts to be measured in terms of decades, it becomes increasingly difficult to imagine that it will end in divorce. However, studies in recent years have found that the rate of divorce for those 50 and older is on the rise, and is the highest it has ever been in this age group, having doubled since 1990. While the reasons for divorcing are not necessarily different for older couples – there is a lack of common interests, the couple is no longer connected, or they have grown apart – the long-term implications of divorce at an older age can be significant. Divorcing at this stage of life presents unique challenges not necessarily present if a person is in his or her 30s, and needs an approach that considers the life stage of this person, particularly financial prospects as he or she nears or is in retirement. A discussion of some of the special considerations that are often applicable in divorces between older couples will be explored below.

Property Division

The largest concern for older couples entering divorce is finances. Many of these individuals are leaving their peak earning years or are already living on fixed incomes, and will not have the opportunity to recover financially from divorce as they would if younger. Because of this reality, substantial adjustments to one’s standard of living are usually required of both parties, since retirement benefits originally envisioned as being shared must now be divided. Unless a couple negotiates their own property settlement, Indiana courts will divide marital property, which includes retirement accounts, in the most just and reasonable manner, but starts with the presumption that an equal split is the most appropriate arrangement. However, this presumption is rebuttable based on factors such as contributions to the marriage and the economic circumstances of each spouse. Note that property division determined by court order cannot be revisited, so the parties have one chance to make their best arguments for the division each believes is most fair.

Having the amount of available benefits or other assets significantly reduced can have the practical effect of forcing an individual to delay retirement, or necessitate selling a marital home that is beyond the ability of either party to maintain alone. Further, potential tax issues related to the division of property should be addressed, as one party may be able to better absorb this financial hit. At the very least, each party needs to be aware of this possibility, especially if one spouse is primarily or entirely responsible for the couple’s finances during marriage.

Health Care

Health care is a much larger concern for those in the latter part of life, as they begin to experience the physical and mental effects of age. An ex-spouse may not be able to remain on the same health care plan, which only adds to the financial instability that can occur. Consequently, it may be necessary to negotiate the financial assistance with medical care expenses and/or the payment of maintenance (spousal support) in mind, which could be a big issue for a spouse that never really established a career in favor of raising children.

Talk to a Divorce Attorney

There are many reasons couples get divorced, and the emotional and financial impact of this decision is a process that few are prepared to face. Working with an experienced divorce attorney can take some of the sting out this disruptive event because you would know your interests are well represented during negotiations and in court. Christopher L. Arrington is a family law attorney that strives to develop creative strategies that fully address your desired outcome. If you live in Danville, Avon, Middleburg or the surrounding areas, call him today to schedule an appointment.