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Bucks County Divorce Attorneys > Blog > Divorce > Bucks County Divorces After 50

Bucks County Divorces After 50

GrayDivorce

At any age ending a marriage is challenging, but a gray divorce brings its own unique set of issues. A gray divorce is a term used when divorcing spouses are over 50, and these late in life changes can have significant implications on retirement planning and healthcare. A Bucks County family attorney can help you protect your financial future and well-being.

The Rise of Gray Divorce

Gray divorce has been steadily increasing in the United States over the past few decades. The reasons for divorce after 50 vary, from evolving personal interests and financial disagreements to simply growing apart over time. Regardless of the cause, the consequences can be profound.

  • Retirement planning. A significant concern for many moving toward a gray divorce is how it will impact their retirement goals. Couples who have been married for decades may have built substantial retirement savings together. Dividing these assets can be complex and requires careful consideration. Pension plans, 401(k)s, IRAs, and Social Security benefits are all subject to division during a divorce.
  • Insurance and medical care are critical issues in gray divorces, too. As you age, healthcare becomes increasingly important, and losing access to a spouse’s employer-sponsored health insurance can be a major concern. If you’re not yet eligible for Medicare, you may need to secure alternative health insurance coverage, which can be costly. Additionally, long-term care considerations must be factored into any settlement agreements.
  • Spousal support. Alimony may also be an issue, particularly if one spouse was the primary breadwinner and the other focused on homemaking or raising children. Pennsylvania courts consider several factors when determining spousal support, including the length of the marriage, the earning capacity of each spouse, and their respective financial needs.

For those divorcing later in life, the likelihood of a significant change in lifestyle is high, and spousal support may be necessary to ensure financial stability. A family lawyer can advocate for fair terms that consider your financial situation and future needs.

Lean on Legal Expertise When Divorcing Later in Life

A seasoned Bucks County family attorney can guide you through the complexities of dividing assets, securing healthcare, and negotiating spousal support. They will work to protect your financial interests, ensuring that you can maintain your standard of living.

Additionally, a lawyer can help you navigate the emotional aspects of gray divorce, offering support and guidance as you adjust to this significant life change. Whether you’re concerned about how equitable division rules will impact your retirement funds or you are worried about retaining the marital home, having a skilled attorney by your side can make all the difference in achieving a fair and equitable outcome.

Could you use advice on what to include in a divorce agreement after being married for decades? If you’re facing a divorce after 50, consult with the legal team at Kevin L. Hand, P.C. With legal support, you can navigate your gray divorce with confidence and secure a stable life today and in the years ahead. Call 215-968-6602 for a confidential consultation.

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