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The end of a marriage will bring about many significant changes for a reader and his or her Florida family. From living arrangements to financial security, divorce will require adjustments in virtually every aspect of life, including retirement. This is a particularly pressing concern for people who are over the age of 50 and considering retirement in the near future.

When a couple age 50 and up decides to divorce, it is known as a gray divorce. Gray divorce is now quite common, but it is beneficial for people to consider how this step will impact their plans for their golden years. One important consideration is to factor how a divorce will impact monthly cash flow. It is also important to weigh post-divorce income versus expenses in order to determine what is needed simply to make ends meet.

Retirement savings accumulated over the course of a marriage is marital property, which means it is subject to division in a divorce. It is in the interests of each person facing a gray divorce to pursue a fair settlement that allows them a reasonable measure of security in the future. In some cases, it may be necessary to adjust the planned retirement date or consider other options for retirement plans.

A gray divorce is a financially complex process, but it is possible to emerge from it with security and confidence for the future. It may help to seek an evaluation of the individual case in order to understand how to fight for an appropriate financial settlement. This step can also help a Florida reader understand what adjustments he or she may have to make for retirement plans.