Late Life Divorce Lawyer in Orange County
Recognizing Special Issues in Divorce After 50
If you are over 50 and contemplating
divorce, we suggest you contact an experienced lawyer from
The Law Offices of W. Douglas McKeague. We have represented individuals and families with
family law cases in Orange County since 1981 and are well-equipped to explain the
subtle and not-so-subtle nuances of a late life divorce. We can help you
understand the issues that you are up against as someone divorcing later
in life, so you can protect your interests and ensure that you make the
right decisions for your emotional and financial well-being.
Divorcing later in life? Here is what you need to know
Couples divorce later in life for the same reasons as younger couples –
infidelity, financial problems, or simply growing apart. When you are
over 50, you are facing aging-related issues that can play a key role
in your decision to divorce; for example, health issues, tensions brought
on by children going off to college, aging parents moving into the home,
and the desire for independence.
If you are considering filing for divorce later in life, you should consider
some of the challenges you may encounter:
- At the age of 62 you become eligible for a reverse mortgage, which offers
a potential stream of income.
- A primary residence receives special treatment for individuals who qualify
for public benefits such as Medicaid.
- Owning a home means the potential for rental income.
- By keeping a home you have the right to equity, regardless of whether or
not you downsize.
In order to divide retirement benefits, the court can issue a separate
order known as the Qualified Domestic Relations Order (QDRO). You should
discuss the following with your lawyer:
- If you are eligible for survivor benefits upon the death of your spouse
- When you can receive distributions without paying tax penalties.
- If your spouse has any loans out against his or her 401(k) plan which he
or she should repay before dividing funds.
- Whether you are able to obtain a hardship withdrawal if necessary.
- If your former spouse is a military member and you have rights to military
retirement benefits under the Survivor Benefit Plan.
Social Security Benefits
A divorce court cannot divide any benefits from Social Security, however
they may affect post-divorce incomes.
If you were married for 10 years and you are at least 62 years of age,
you have a right to benefits of retirement on your ex-spouse's record,
without reducing your ex's benefits.
Once you have been divorced for two years, you will be entitled to benefits
through your ex-spouse, even if he or she is eligible but not collecting
benefits. Further, if your former spouse dies, you may be eligible to
receive up to 100% of their Social Security benefit providing you meet
Speak With a Late Life Divorce Attorney in Orange County
The Law Offices of W. Douglas McKeague to learn more about late life divorce. With more than 35 years of experience
representing clients in their divorces, we can answer all of your questions
and give you the information you need to make the right decisions.
Contact our office to schedule a
free initial consultation!