Jamie Graham & Associates, PLLC

Special divorce considerations for people in their 60s

Perhaps you never saw yourself divorcing, or you have been biding your time until your youngest is finished with college. Whatever the case is, you are in your 60s and divorcing after a decades-long marriage. There are a few things you may have to deal with that your younger counterparts do not.

Keeping your house could come at a greater cost

When you have lived in your house a long time, you may have a deep attachment to it. It is possible for you to keep the house, of course, but you may have to give up something important in return. For example, accepting reduced alimony or trading in more of your pension may be necessary.

Your retirement funds are bound to diminish

Divorcing at any age, but especially later in life, is likely to affect how much money you have for retirement. Sometimes, you may be asked to relinquish tax-deferred investments for assets that are taxable. This type of split does not always make sense.

Child support is probably a nonfactor but...

Chances are that child support does not matter in your case. Of course, if you were a later-in-life parent, the story may be different. Generally, though, you do have the fortune of skipping what is a huge issue for many people. On the other hand, you may still have to grapple with how to share holidays and celebrations with your ex, children and grandchildren.

You may want to change your will

After your divorce, your estate planning needs are likely to change. For example, if you died while married, odds are that your spouse would have kept living in the house. If you still want your ex to have the house if you die first, you need to make specific provisions for that in a will.

Even if you think you are set as far as wills go, a divorce in your 60s is the perfect opportunity to take stock of your assets. You could set up trusts or college plans for your grandchildren, or establish plans for your favorite charity.

You could get remarried

People live longer these days. You could get remarried, and what's more, you could stay with that person for a couple of decades or even more. Before remarriage, consider drawing up a prenuptial agreement so that your children's and other interests are protected.

Divorcing in your 60s comes with some significant differences as opposed to divorcing in your 20s. A lawyer can help explain the many considerations in depth.

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At Jamie Graham & Associates, PLLC, we have received a variety of honors and awards for our family law services. Members of our team have been listed as Top Lawyers in San Antonio Scene magazine. We take pride in the number of positive reviews we have received from satisfied clients. On AVVO, a lawyer rating website, we have received an 8.9 rating overall and many positive ratings from clients and colleagues.

  1. Top 10 Attorneys | American Jurist Institute | 2017
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Jamie Graham & Associates, PLLC
310 South St. Mary's Street
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San Antonio, TX 78205

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