Roncone Law Offices, P.C.
Call Our Attorneys:
978-401-0825 | 877-261-4389
Menu Contact

Getting a divorce later in life can drastically impact finances

The dissolution of marriage at any age, for those in Massachusetts or elsewhere, can be emotionally and financially challenging. Unfortunately, for one who gets a divorce later in life, the impact on finances can be particularly drastic. For this reason, seeking the best possible settlement terms is in one's best interests.

Divorce is often approached from an emotional standpoint. However, if at all possible, emotions need to be removed and logical thinking needs to prevail. Those who let their emotions rule divorce proceedings often end up with less than that to which they are actually entitled. For those going through this process later in life, this can have an extremely negative impact on retirement years.

In order to make sure the best possible settlement is achieved, it is important for both spouses to supply a full list of assets for review. By doing so, both sides will have the ability to review property that may be divided and discuss with their legal teams and financial advisers the positive and negatives of dividing certain assets. This also gives both parties the ability to ensure that all assets have been fully documented. Unfortunately, it is not uncommon for some spouses to purposely exclude financial accounts or other valuable property in hopes of avoiding losing them in divorce.

When seeking a divorce, along with ensuring assets are accounted for, spouses who may be eligible for spousal support can seek assistance from legal counsel to ensure they are receiving the maximum amount to which they may be entitled. Between alimony and a fair division of property, it is possible for those in Massachusetts who are divorcing later in life to move forward more financially prepared for the years ahead. In some cases, such settlements may be achieved through out-of-court negotiations, while others may require litigation.

Source: U.S. News & World Report, "Gray Divorce: What Women Who Divorce Later in Life Need to Know", Debbie Carlson, July 21, 2016

No Comments

Leave a comment
Comment Information

What Clients and Peers Are Saying ...

"Please take my word for it, this is the attorney that you want on your side and certainly not the one that you want against you.”

Email Us For A Response

Contact Us For A Free Initial Phone Consultation

Tell us about the type of case you are faced with. We'll tell you how we can help. Call us at 877-261-4389 or send us an e-mail to speak with a Leominster and Worcester area personal injury attorney, family law, or criminal defense lawyer today.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Roncone Law Offices, P.C.

142 Main Street
Leominster, MA 01453

Toll Free: 877-261-4389
Phone: 978-401-0825
Fax: 978-840-6000
Map & Directions