Why Is Divorce Over Age 50 Different?
Divorce is emotionally and logistically complex at any age, but couples over the age of 50 face special challenges. At this point in life, you are more established than younger couples and need to divide substantial assets, determine suitable alimony payments and prepare for your retirement.
Younger individuals have more years to build their career and recuperate assets lost in divorce. Over the age of 50, you need to strategically work with an attorney to protect your assets and financial future.
Call 612-254-6409 if you are considering divorce to schedule a free consultation with one of our Minnesota lawyers. There are special considerations for divorce over 50, and you should arm yourself with all of the facts.
Strategically Dividing Retirement Accounts
The greatest concern for many older divorcing couples is their retirement account. For years, you have calculatingly saved in anticipation of retirement. Now, your retirement account could be split to accommodate an unforeseen divorce. We can provide you with individualized legal counsel to help you strategize a new retirement plan and pursue fair division of your retirement account or negotiate other options to save your retirement assets.
Experience Protecting Established Assets
At Bowden Cyr, PLLC, we help many couples facing the daunting task of substantial asset division. High-asset divorces require more time and care than standard divorce proceedings. In Minnesota, property is equitably divided between divorcing couples. A mistake in high-asset divorces can cost individuals a substantial amount of money. To ensure that you receive a just share of your assets, we meticulously value, catalog and categorize all of your holdings.
Determining Fair Alimony Payments
When a younger couple divorces, judges may establish limited alimony payments anticipating that the dependent spouse will re-enter the workforce. This is not always possible with older individuals who may have been out of the workforce for most of their adult life.
Whether you will rely on alimony payments to support yourself in late life, or you will be the supporting party, we work for fair payments that protect your ability to comfortably live into retirement.
Schedule Your Free Consultation
Bowden Cyr, PLLC, offers a free consultation to address your concerns as you enter into gray divorce. Call us at 612-254-6409, or you can also schedule your evaluation online. If you secure us as your Woodbury divorce attorneys, we will guide you through the overwhelming process, and help you pursue a comfortable future.