Divorce Over 50 in Texas
Commonly referred to as “gray divorce,” the number of spouses divorcing over the age of 50 has increased in recent years, even as the general divorce rate declines. The reasons why older adults are choosing to divorce vary, though some people wait until their children are grown to divorce, and others realize they have simply grown apart. No matter why you might be considering divorce, it is important to recognize the unique issues you might face in a divorce over 50.
The following are only some issues that you may or may not face in a gray divorce. To discuss the specific challenges that might arise in your case, consult directly with a Hurst divorce lawyer at Hoppes Law Firm, PLLC.
Children and conservatorship can be a major point of contention in many divorces. However, many spouses over the age of 50 do not have to address this issue because their children are adults. This means that the court will not rule on child support nor conservatorship in most matters. Some exceptions include spouses who had children later in life or who have adult children with special needs who are still dependents.
Community Property Division
This is a complex and major issue that spouses over 50 must address. Texas law requires divorcing spouses to divide all of their community property fairly and justly - no matter what their age might be. If the divorce is following a long marriage, the spouses likely amassed a significant amount of property and assets, including sentimental items they both might want to keep. If it is a second or third marriage that is ending, determining what is community or separate property can be a more challenging matter.
Many people over the age of 50 own a home and might have owned the house for some time. Both spouses might agree to sell the house and divide the proceeds, but, if not, they will need to decide who keeps the house and whether that spouse will be able to refinance a mortgage in their own name.
The closer you get to retirement age, the more imperative adequate retirement benefits become. Retirement savings are considered to be community property, and a spouse is entitled to their fair portion of their spouse’s retirement accounts. Dividing these accounts can require special documentation, known as a qualified domestic relations order (QDRO), and there are tax implications to consider when determining the true value of retirement accounts.
Also called alimony or spousal support, maintenance is common in divorces between older spouses and after long marriages. Generally, maintenance will be requested if one spouse was out of the workforce for several years, perhaps while raising children to adulthood. This long professional hiatus can make it difficult to find work to support yourself following a divorce, so support might be necessary.
Do Not Hesitate to Consult with Our Skilled Hurst Divorce Lawyers
At the Hoppes Law Firm, PLLC, we represent divorcing clients of all ages. We serve clients in Hurst, Bedford, North Richland Hills, Colleyville, and throughout all of Tarrant County. Call 817-283-3999 or contact us online to learn how an experienced gray divorce attorney can help in your case.