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Retirement and divorce

Florida is a popular place for many people to retire. A thorny issue that comes up when couples are planning retirement is divorce, which can cause both partners change the plans they had made for many years. Divorce among older couples, also known as "gray divorce," is on the rise.

The impact of divorce can make life difficult after retirement. Dividing up assets as such as retirement plans, life insurance, real estate, stocks and life savings can have a devastating impact on a couple who had planned to retire together. Ending a marriage may force a person to take a different approach to retirement. Due to the costs of divorce, unexpected withdrawals from life savings and retirement accounts may be necessary.

The emotional side of a divorce is also challenging for everyone involved. A couple's friends and family members cannot be divided up evenly with a court order, and sides will inevitably be taken. One or both spouses may struggle to find the same emotional support that they had when they were married.

An attorney experienced in family law may be able to ease some of the financial and emotional impact of divorce. An attorney may be able help a client who is seeking divorce and approaching retirement at the same time keep some of the property that is most important to them by negotiating a settlement agreement that is favorable to the client.

It is important for a client who is consulting an attorney for the first time to give the lawyer as much information about their situation as they can. Gathering any available financial records and creating a list of assets can help give the attorney a good picture of what is in the marital estate to be divided. It is also important for clients to bring up any questions or concerns about family law issues, such as whether or not they or the other spouse will be seeking spousal support.

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Brandon Family Law Center, LLC

813-438-7119 or 800-769-0129 Contact Us for a Consultation