How getting divorced later in life is different

How getting divorced later in life is different

On Behalf of | Mar 4, 2022 | Divorce, Family Law |

Divorce is always a difficult process, no matter when it happens. But getting divorced later in life in Maryland can present unique challenges and benefits that you don’t encounter when divorcing at a younger age. Here are important things you should know when divorcing in your later years.

Challenges of divorcing later in life

The most difficult thing about getting a divorce in your later years is dealing with your finances. When you are younger, you generally have fewer assets and debts to divide between you and your spouse. However, when you get older, you may have accumulated more property, savings and retirement benefits. This can make dividing your assets much more complicated.

Additionally, you may have commingled your separate property with marital assets during your marriage. For example, if you inherited or bought your home before marriage, but your partner made significant repairs to it through the years, or you rented a room and used those funds with your spouse, the judge might see that property as marital.

Another challenge is how your kids may take it. Parents’ divorce is difficult for children no matter their age. Your relationship with your children might change depending on your unique circumstances. Have an open conversation about your separation with them; they will likely understand.

Benefits of gray divorces

One of the most positive things is that you generally understand who you are and what you want out of life. This can make it easier to negotiate a fair divorce settlement with your spouse. You may also find that you have more time and freedom to pursue your interests and hobbies after your divorce.

Even though divorce is difficult, you may be more emotionally prepared to deal with the challenges it might come with. Your children may be older, so it might be easier for you to talk to them about the divorce.

If you are divorcing at a later age, take steps to prepare for it. More importantly, ensure that you get what’s rightfully yours from your marriage because you need a strong financial foundation now more than ever.