Challenges of a Divorce After 50

After the nest is empty and the children are already grown with their own families, it seems it’s the perfect time for a divorce because the collateral damage seems to be significantly less. However, when you are going through a divorce after 50, or if you are simply considering the option, there are some things you need to take into consideration before you proceed in hiring a divorce lawyer in Highland Park

Estate Planning

Whether you and your spouse share only one property or multiple estates around the world, figuring out what properties to keep, sell or give as an inheritance comes into play. In divorces of younger couples, these real estate properties are heavily fought over. However in divorces after 50, the couple generally downsizes.

Financial Planning

Financial planning of assets, including 401K and Social Security, have to be taken into consideration to ensure both parties are able to take care of themselves, as well as to determine if maintenance is required. Debt analysis also needs to be analyzed if there is debt of any kind that’s involved within the couple’s marriage.

Offspring Planning

If you had kids at a later age and they are still in your care, such as with a college student, living arrangements need to be made. Child custody isn’t as prominent in late aged divorces; however, they still need to be thought about in some cases.

It is always advisable to meet with a divorce lawyer in Highland Park first to understand the ramifications of a divorce, no matter how old you are. There are various divorce lawyers who are able to walk you through any questions you may have.

If you are thinking about getting a divorce in your senior years, visit the Michael C. Craven website to schedule your consultation today.

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