What are the financial implications of divorcing when older?

By |2023-08-25T12:10:40+00:0021 Dec 2016|Categories: Family Law|


Divorce at any age can be an emotionally draining experience. But for older individuals, a parting of the ways could be especially daunting. The fact is, the older we get, the less time we have to prepare for retirement. Moreover, if you have spent years dedicating your time to tending to the household and raising a family rather than being part of the workforce, you are at an extreme disadvantage in regards to seeking employment.

But fortunately, your time accrued during your marriage could play a positive factor in regard to the settlement you may be able to receive. For example, if you have been married for more than 10 years, you are allowed to claim a share of your ex’s Social Security benefits.

Additionally, you have a variety of alternatives regarding the division of other retirement plans, independent pensions as well as employer-provided pensions. For example, you may be able to collect your share in the form of a lump sum, which you could then reinvest. On the other hand, you might be better served to have your benefits parsed out over your ex’s lifetime.

It is very important that you explore all your possible sources of revenue that could constitute your final settlement. And clearly, you will need to carefully weigh your choices in regard to the manner in which you want to have these accounts divided. Remember, what you walk away with after your divorce will form the cornerstone of your finances and retirement.

To help make you the most advantageous choices possible, you may want to consult with an experienced property division attorney. An attorney can assess your situation and help you work for the settlement that serves your best interests.

About the Author:

Dorie Anne Rogers - The Law Offices of Dorie A. Rogers, APC
Dorie A. Rogers, a Family Law Specialist, Certified by the State Bar of California, has been an attorney since 1981 with an exclusive family law practice located in Orange County. She is accepting dissolution cases with support and property issues including the use of forensics to ascertain business value, community interests and to establish monthly case flow analysis. Ms. Rogers has substantial experience in high conflict custody litigation involving sophisticated psychological issues. She drafts premarital and postmarital agreement designed to define and establish parties' separate and community property interests. Paternity cases and domestic violence matters are considered part of her practice. Ms. Rogers is a court-approved and court-appointed to represent minor children.Ms. Rogers consults with individuals concerned about entering or exiting a relationship. She advises effective strategies for dissolution or premarital planning. Knowledge is power and good planning affords better results.Specialties: Family Law Specialist, Certified by the State Bar of California
Go to Top