Divorce changes many things about a person’s life, including his or her financial stability. The impact of a property division order can be felt for years to come, which is why it is important for a person nearing retirement to seek terms that are fair and reasonable. Divorce near the time of retirement is costly, and a reader will want to look for ways that he or she can secure a strong future.
Gray divorce is a divorce involving two parties who are over the age of 50. When a couple gets divorced at this age, it is likely they have decades of retirement savings together or they have a previous marriage or two already behind them. This can make things remarkably complicated, which is why a Florida resident will want to be very careful to honestly assess his or her expenses. This will allow a person to know how to live within his or her means and adjust for potential financial changes that could be coming.
Many types of retirement savings are marital property, which means they are eligible for division in a divorce. This can drastically affect when a person will be able to retire and what he or she plans for the golden years. Seeking a final order that is fair involves thinking long-term, well beyond how a person feels in the moment.
The property division process is complex, and the implications are serious. A Florida resident who is facing the prospect of a gray divorce may want to speak with a legal expert regarding his or her options. With a lot on the line, it can help to have experienced guidance every step of the way.