Couples who enter a divorce after the age of 60 may be faced with obstacles that are unique to late-life divorces. Unfortunately, older couples terminate their marriage for the same reason a younger couple would. Regardless of the reason, there are complexities inherent to these types of divorces that older couples must be able to navigate. In this blog, our Illinois divorce attorney explains how asset division and health concerns are handled in late-life divorces.
Property division can be a difficult obstacle to tackle in divorce, and late-life divorces are no exception to this. Throughout the years of your marriage, and maybe before entering your marriage, you’ve spent a substantial amount of time and money building a retirement or 401k fund. Depending on the circumstances of your divorce, you may need to file a Qualified Domestic Relations Order (QDROs), which outlines the percentage of benefits one spouse receives from the other.
Spouses who are 62 or older and ending marriages that lasted longer than 10 years may:
- Qualify to draw up to 50% of a former spouse’s benefits
- Receive retirement benefits from a former spouse’s Social Security record
- Qualify to receive benefits from a former spouse who you’ve been divorced from for at least 2 years, even if he or she has not yet started to receive benefits
Some individuals, as they get older, are faced with serious health issues that may impact how alimony is handled. If your spouse is diagnosed with Alzheimer’s or dementia, for example, his or her ability to earn income may be diminished and there’s a chance they do not have sufficient assets to sustain themselves. In this case, you can ask that a judge chooses an ad litem to be responsible for representing a spouse who is not capable of representing themselves.
From start to finish, our Illinois divorce attorney works tirelessly to handle all the legal aspects of your divorce with efficiency and discretion. With us on your side, you can trust that we consider your interests a top priority.
Contact Wakenight & Associates, P.C. today for a free consultation!