How do divorce concerns change as you age?

On Behalf of | Oct 1, 2021 | Divorce

We all like to think that love is everlasting, but the possibility always exists that hearts will break or grow apart, and a couple that was once happily married will decide to divorce. Divorcing couples in Dallas will have many concerns that vary based on the age of the spouses involved.

Divorcing in your 20s

If you are divorcing in your 20s, you may just be starting out in your career, meaning you do not have much in the way of retirement assets. However, you may have purchased your first home, which may currently be your most valuable asset. This can affect the focus of the property division process.

In addition, some couples in their 20s have young children. If your children are infants or toddlers, child custody and child support are important concerns, especially since you will essentially be raising your child as a divorced parent until the child is grown.

Divorcing in your 30s and 40s

If you are divorcing in your 30s, you may now have established a career. You may also have growing investments and savings that you want to protect. These, along with your home that may be appreciating in value, may be the primary focus of the property division process.

In addition, you may be raising your children who are now old enough to remember their post-divorce life and may have preferences about which parent they want to live with. This can affect child custody decisions and can impact child support.

Also, spousal support may be on your radar, especially if you or your ex stayed out of the workforce to care for the family, although permanent alimony is not often awarded at this stage in life.

Divorcing in your 50s and 60s

If you are divorcing in your 50s and 60s, you are entering into what is known as a “grey divorce,” and it may look very different from the divorces of younger couples. At this age, your children may be adults living on their own, making child custody and child support non-issues.

However, by this point you may have a significant amount of savings, investments and retirement accounts, which can be essential components of the property division process.

In addition, at this age you may be out of the workforce and in retirement or at least nearing retirement. This can make alimony a major concern, especially if you or your ex earned less while married.

Divorce at any age is complex

It is important to remember that divorce at any age is not easy, and complications can arise. Knowing your rights and options can be essential to achieving a fair outcome in your divorce.

 

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