Posted on October 18, 2022 in Divorce

Approximately three percent of individuals aged 70-74 years old suffer from Alzheimer's Disease, dementia, and other illnesses that cause cognitive decline. For adults aged 85-89 years old, the prevalence of dementia is approximately 22 percent. However, the disease can strike people in their 50s and 60s in rare cases as well. Anyone who knows someone with dementia knows the toll it takes on both the sufferer and the sufferer's family.

Divorcing someone with dementia or Alzheimer's Disease can be extremely complicated both legally and emotionally. The cognitive decline can make it difficult for the person with dementia or Alzheimer's to understand what is happening, which can lead to anxiety and confusion. Comprehension issues can also raise legal questions about the dementia sufferer's ability to make decisions during the divorce process. If you are considering divorcing someone with dementia or Alzheimer's, working with an experienced divorce lawyer is imperative.

Continue Reading ››

 Posted on October 04, 2022 in Divorce

If you are over age 50 and getting divorced, this will inevitably change your family dynamics. While some divorce cases are more contentious than others, few are completely devoid of any family drama. Sadly, it is sometimes the youngest family members that get caught up in this drama.

Grandparents getting divorced in Illinois should be aware of their rights with regard to seeing their grandchildren - especially if the grandchild's parents are less than cooperative. 

When Grandchildren Get Caught in the Middle of Divorce-Related Bitterness

Consider the following scenario: After many years in an unfulfilling marriage, a woman in her 60s decides to divorce her husband. The woman's adult son is infuriated with her for "breaking up the family." He decides to prevent his own children, her grandchildren, from visiting her. Before the divorce, the grandmother and her grandchildren were close, and they are all devastated by this turn of events. 

Continue Reading ››

 Posted on September 26, 2022 in Divorce

The term "gray divorce" refers to a divorce in which spouses are over age fifty. In the last few decades, gray divorce rates have skyrocketed. More and more people are deciding to leave unhappy marriages later in life.

Finances are a central concern in most gray divorce cases. Spouses want to know that they will have the financial resources needed to live independently. The question of money becomes an even more immediate concern if spouses are retired or close to retirement. 

Spousal maintenance, called alimony in other states, may be awarded to a lesser-earning spouse in a gray divorce. Whether you are the payer or recipient of spousal maintenance, it is crucial that you understand your obligations and rights. You should also be aware of how spousal maintenance can affect your retirement plans. 

Continue Reading ››

 Posted on September 19, 2022 in Divorce

For many people, raising children is their ultimate purpose in life. They sacrifice career advancement in order to care for their children and maintain the family home. While being a stay-at-home parent can be deeply rewarding for parents and children, it also puts a parent in a vulnerable position during a divorce.

Social security retirement benefits are based on how much a person paid into the social security system during their career. Individuals who spend their 20s, 30s, and 40s raising children or grandchildren may not qualify for social security benefits based on their own work record. 

If you are divorcing after many years as a stay-at-home parent, you should discuss your social security options with your divorce attorney. You may be able to receive benefits based on your spouse's work record.

Continue Reading ››

 Posted on August 30, 2022 in Divorce

The term "gray divorce" is used to describe a divorce case involving spouses over age 50. Because they have lived longer, older spouses often have more complex financial concerns to contend with during divorce than younger couples. Understandably, many people divorcing in their 50s and 60s worry about how the divorce will affect their retirement plans, housing, investments, and overall financial future. There are also deep-seated emotional and personal factors associated with a gray divorce. 

If you are over age 50 and plan to divorce, proceed with caution and avoid the most common gray divorce mistakes.

Mistake 1: Failing to Plan for the Future

If you've been married for 10, 20, or even 30 plus years, it is probably hard to imagine life without your spouse. But divorce at any age requires you to think about your future and plan accordingly. This is especially true if you are nearing retirement age. You need to take into account how divorce will affect your retirement savings and benefits, as well as your overall financial picture.

Continue Reading ››

 Posted on August 18, 2022 in Divorce

People over the age of 50 are divorcing at a higher rate than any other age group. Fortunately, many of these individuals are eventually able to find love again. It is not uncommon for people in their 50s, 60s, or even 70s to find the love of their life after a divorce.

If you are going through a divorce later in life, it is important to know how a new relationship could impact your life legally, financially, and personally.  

Timing is Important When it Comes to Post-Divorce Relationships

No one can predict when Cupid’s arrow strikes. However, most divorce attorneys recommend that spouses wait until the divorce is finished to date. Dating during divorce can lead to increased hostility during the divorce process. If you use marital funds to pay for dates or gifts, you could also be accused of dissipation of assets. If your spouse files a dissipation claim, it could reduce your divorce settlement.

Continue Reading ››

 Posted on July 18, 2022 in Divorce

The term “gray divorce” has been used to describe divorce involving couples over age 50. There are many special concerns and considerations in a gray divorce. Older spouses often have significant assets and may also have significant debts. They may own real estate, investments, business interests, high-value art or antiques, and other complex assets. Divorcing spouses in their 50s, 60s, and 70s may be planning to retire within a few years or have already entered retirement. They must now determine how the divorce will impact their retirement plans.

One crucial issue in a gray divorce is ownership of the marital home. It can be hard to know whether fighting to keep the home is in your best interests or if it would be better to forgo the home in favor of another option. If you are over age 50 and you plan to divorce, work with an attorney who understands the complexity of a gray divorce case and who has experience successfully representing older adults during divorce.

Continue Reading ››

 Posted on July 08, 2022 in Divorce

Studies show that the divorce rate in the United States has decreased in recent years. However, divorce among older couples is more common than ever. When divorcing spouses are older, they are more likely to have complex financial concerns. They will have to worry about how the split will influence their retirement plans, living situation, and financial future. They may also have adult children and grandchildren who will be deeply affected by the divorce. “Gray divorce” cases are usually more complicated legally, financially, and practically than typical divorce cases. So, divorcing individuals aged 50 or above are encouraged to work with a divorce lawyer experienced in these gray divorce issues.

Read on to learn about common reasons for gray divorce and what you can do if you are ready to end your marriage.

Causes of Gray Divorce in the United States

Each divorce is as unique as the individuals involved. However, researchers have noticed certain themes with regard to gray divorce. Many older couples divorce because of:

Continue Reading ››

 Posted on June 20, 2022 in Divorce

Divorce involving spouses over the age of 50 has been nicknamed “gray divorce.” Although each divorce case has its own unique challenges, gray divorce cases are often especially complex. Older couples often have more significant assets and debts than younger couples. They typically need to address retirement plans and social security, real estate property ownership, tax consequences, and many other issues during their divorce. Additionally, if a divorcing couple owns a family business, they will also need to decide what to do with the business during divorce.

Determining Ownership of the Business in a Divorce

Business owners pour massive amounts of time and energy into their businesses. If you own a family business and are getting divorced, the business is likely a top priority. In a gray divorce, a family business is almost always a marital asset. This means that both spouses’ are entitled to an equitable share of the company’s value.

Continue Reading ››

 Posted on June 10, 2022 in Divorce

Getting divorced later in life comes with unique challenges. The legal and financial issues older couples face are often much more complex than the issues divorcing couples in their 20s or 30s deal with. Fortunately, divorcing couples in Illinois have several options for resolving divorce issues. Divorce mediation is a process during which a couple discusses divorce matters like the division of marital assets and debts in hopes of reaching an out-of-court agreement.

Divorce Mediation Basics

Divorcing spouses often have a hard time discussing important issues in an effective, non-adversarial way. This is completely understandable considering most couples go through months or years of marital turmoil before deciding to file for divorce.

During mediation, a mediator facilitates productive discussion and negotiation. Mediators are skilled in conflict resolution and de-escalation. An experienced mediator can help divorcing spouses identify the issues on which they agree and those issues on which they disagree. He or she can help spouses explore various solutions and, ideally, find solutions both spouses agree to.

Continue Reading ››