If you make the decision to call it quits in your senior years, you may be surprised to learn you aren’t alone. The divorce rate in the U.S. for individuals over the age of 50 doubled in the period between 1990 and 2010. Even though remarriages have a higher rate of divorce, it isn’t just those on their second or third spouse who are witnessing their marriage fall apart. In fact, approximately 48 percent of senior divorces are made by couples in their first marriage.

Important Information about Divorcing in Your Senior YearsIf you are in your senior years and exploring the options of divorce, it is best to hire a divorce attorney in Florida for assistance. However, there are a few bits of information that can also be beneficial.

Alimony is Virtually Always Granted after Long-Term Marriages

When younger couples get a divorce, they typically have temporary alimony agreements, which provide financial support for their ex. However, it is different in longer term marriages. While the amount paid for alimony varies, legal experts state that seniors can expect it to play a role in their divorce proceedings.

Retirement Money is Typically Cut in Half

Florida is a no-fault state, which means it doesn’t matter if the divorce was the result of actions by one person. In any situation, any retirement funds and other assets are likely going to be split down the middle. In some cases, spouses offer more of their pension to avoid having to make alimony payments. However, this isn’t always the best option since it would mean trading a tax-favored investment for a possibly taxable income.

Keeping the House Means You Give Something Else Up

In many cases, one spouse is going to want to keep the home, rather than selling it and splitting the profit evenly. If this is the case, you need to understand that the house represents value, which means the other person will receive something else to balance things out.

This may be a larger portion of the other person’s pension or having to pay a smaller amount of alimony. If you are unsure about how keeping your home may affect your divorce proceedings, it is best to speak to your attorney.

Even Older Kids May Factor Into a Divorce

While there are many cases of senior divorce where issues of child support and visitation are a non-issue, it doesn’t mean that children aren’t going to be considered in the divorce proceedings. If the adult child has a disability or is still in school and is receiving support from the parents currently, then it may be written in the divorce agreement that this support must continue.

Understanding the factors that can affect senior divorce issues can help you know what to prepare for if you are facing this situation. If you need help or assistance, contact the divorce attorneys at The Carolan Family Law Firm, P.A. by calling 305-358-2330 to learn more.