Posted on September 11, 2020 in Divorce

For couples divorcing after age 50, perhaps the most pressing concern is the impact the divorce will have on retirement. When you have spent most of your life planning and budgeting for retirement as a married couple, it may be overwhelming to consider how your plans will change now that you will be on your own. It is inevitable that divorce will have some impact on your retirement, but with some careful consideration and the assistance of an attorney, it is often possible to salvage many of your retirement goals.

Preparing for Retirement During Your Illinois Divorce

Making sure that you are still able to comfortably retire after your divorce often requires smart decision-making during the divorce process as well as a clear plan for after the divorce is finalized. Important strategies to consider include:

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 Posted on August 27, 2020 in Divorce

The rate of divorce for older couples has grown over the past decade, resulting in the term “gray” divorce. Considering a divorce at any age can be scary, but for those couples who are 50 and older, it can be downright daunting. Spouses who have been married for 25 years or more often have a lot of baggage, as they say. They may have acquired a lot of marital property and assets, all of which will need to be divided if they choose to part ways and legally end the marriage. Illinois is an equitable distribution state, which means any property obtained after the wedding will need to be divided fairly based on several factors. However, in some cases, that might be the easy part. Moving on emotionally can be difficult, regardless of gender. Even though the stereotype is that they are supposed to be the stronger sex, men often have a harder time suddenly adjusting to single life after so many years with a partner.  

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 Posted on August 11, 2020 in Divorce

When people get divorced and consider relocating to another state as a way of getting a fresh start, there are many things they might consider—from job prospects to housing options, there are all sorts of concerns. But when you are over the age of 50, and in the middle of what is known as a “gray divorce,” there are other considerations that should be made before you decide exactly where to establish new residency. Here are some examples of these important concerns.

4 Things to Think About Before Relocating After a Gray Divorce

While you may think that there is a lot of overlap between the best places to live after divorce and the best places to live in retirement, the truth is that there is very little correlation between the two. Sure, some people might rank Florida as a top-five state for retirement, but in terms of getting a divorce in Florida or even restarting your life in Florida after a gray divorce, it could be much more expensive than you are willing to tolerate. Here are some important things to consider about possible relocation sites after divorce:  

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 Posted on July 30, 2020 in Divorce

If you are over the age of 50, the safety issues and the hassles associated with the divorce process might make it seem near impossible to get a divorce during the pandemic. It is even easier to put a gray divorce on the back burner when you consider all the warnings from public health officials stating that older people tend to be at higher risk of contracting COVID-19 if not “locked down.” Here in Illinois, the divorce courts have been able to adjust to the “new normal” and attempt to restore some semblance of “business as usual” with regards to divorce cases, adapting when necessary to protect all parties involved from the pandemic. In other words, you can pursue that divorce based on the following reassurances.

4 Ways Illinois Restored Safe Divorce Court Operations

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 Posted on July 10, 2020 in Divorce

Divorce after 50 presents itself with all sorts of new challenges, including fear of the unknowns in your life, like how you will achieve your dreams now, what will happen with your retirement, how you will make ends meet on a fixed income without your spouse, if you will have to work until you die, or if you will ever fall in love again. While all of these are valid and warranted concerns, there are ways to not only survive but thrive after your gray divorce. Here are some tips to get you started. Who knows? Maybe you will lead an even better life after your gray divorce than you did the 50 years prior.

4 Steps to Surviving a Gray Divorce

Over the last three decades, gray divorce rates have nearly doubled. This all-too-common type of divorce might seem daunting, but ultimately it is for the best—and you can make both your lives better if you are willing and able. But the first goal is survival. There are numerous ways to get through a gray divorce, but four key steps are:

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 Posted on June 25, 2020 in Divorce

Over the last few decades, the number of gray divorces has doubled. But sometimes when you are 50 or older, the thought of getting a divorce and restarting life without the support of a spouse is not something either of you truly wants. Never is this truer than when the two of you consider your finances and other benefits implicit in your marriage that would disappear upon divorce. It might not always be worth relinquishing all of that financial security due to something as minor as not having much to discuss over the dinner table now that the kids are grown up and out of the house. In those cases, you might want to consider the following alternatives to divorce if you are 50 or older.

4 Alternatives to Gray Divorce

If your marriage is less-than-perfect these days, that does not necessarily mean that you have to get a divorce. You have other options, including:

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 Posted on June 11, 2020 in Divorce

Thinking about getting a divorce in the twilight of your years, or a gray divorce, is difficult enough, but having to consider such an option due to the negative effects of dementia brings with it another set of challenges. If you are the one watching your loved one decline mentally, you will probably struggle as the person you have been devoted to for so many years disappears before your eyes. How could you ever abandon this person, though, especially now, when your loved one is at his or her most vulnerable? If you consider dementia’s effect on the person diagnosed and, in turn, how that changes the dynamics of your relationship, you might realize that a divorce might be your best option.

5 Signs That a Divorce Might Be Imminent

In most cases, especially with older generations of married couples, the vow of “in sickness and in health” is not to be taken lightly. You both agreed to that vow, and possibly throughout your marriage faced adversity that you overcame together, no matter how much strain it put on your union. Why should a diagnosis of dementia be the one exception to that vow? As you will see, a “dementia divorce” might actually be better for both of you. Here are a few reasons why:  

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 Posted on April 07, 2020 in Divorce

Divorcing after 50 is not the same as divorcing at an earlier age in many respects. Being so close to retirement age and having so many differences in your lifestyle, outlook, and finances relative to when you were younger makes a difference. Recovering from a divorce after 50 is more urgent and complex. Here are some practical ways to secure your financial future when going through a divorce later in life:

6 Ways to Improve Your Finances After a Gray Divorce

The decisions you make about your finances when you divorce after 50 can quite literally determine the rest of your life—from retirement to death. That is why you need to consider the following issues when divorcing after 50 to ensure your financial outlook is positive:

1. Properly Divide Assets During the Divorce—For the most part, people who get divorced later in life have a much more complex set of assets to divide. From myriad investments and retirement accounts to different types of property obtained throughout your lives, both of your financial pictures can be complicated. That is why you need to be particularly vigilant, careful, and fair when dividing assets.

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 Posted on April 07, 2020 in Divorce

While finances are a major part of your life that will dramatically change upon going through a gray divorce, the emotional impact of that divorce can be staggering and sometimes even incapacitating. That is because, at your age, the challenges resulting from a divorce are either completely different from those faced when younger, and they may be greatly exacerbated or more difficult to manage due to circumstances in your life. Following is a closer look at the emotional toll of a gray divorce and how you can overcome it.

Advice to Manage Emotional Challenges of a Gray Divorce

With gray divorces being one of the most common types of divorces these days, more and more Baby Boomers are faced with the new prospect of living the rest of their lives without their partners. Here are some ways to avoid or limit the emotional difficulties you might face as a result:

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 Posted on April 01, 2020 in Divorce

Contrary to common belief, even if you and/or your ex-spouse are retired or will retire soon, spousal maintenance (alimony) payments will not automatically stop in Illinois. Depending on the circumstances and the obligations set forth in your divorce decree, the payor might still be required to continue making spousal support payments long after retirement. Here is a closer look at the different scenarios you might face with regard to spousal maintenance after retirement:

Spousal Support as a Retiree

Regardless of whether you are the paying spouse or the receiving spouse, there are essentially three things that could happen to spousal maintenance payments upon retirement:

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