Getting a divorce at 50 is becoming more common in the U.S. While the divorce rate in nationally is declining, the rate for people 50 and over has doubled in recent years. Just because divorce for people over 50 is more common, it doesn’t mean it’s easier.
While most people in their 50s don’t have to worry about negotiating child custody or child support in their settlement, there are other complex issues to navigate. This is why having an experienced Raleigh divorce attorney who understands the challenges that come with a divorce at 50 is essential to moving successfully into the next stage of your life.
At the Doyle Law Group, P.A., we have the knowledge and experience to provide you with superior counsel and advice during negotiations and representation should your case go to court.
Property Division in Divorce at 50
North Carolina divorce law states that property must be settled through equitable distribution. It’s important to note that equitable, in this case, doesn’t mean equal, in that both parties get half of everything. It actually means property must be divided fairly.
Factors such as the health of one spouse, the length of marriage, or how one spouse contributed to the marriage could all be taken into account in the marriage. For example, if one party was a homemaker, caring for the home and children, for 30 years, that party’s earning power is limited compared to a spouse who had been consistently working for that time period.
Additionally, couples in their 50s have more complex holdings as they’ve traditionally had more time to amass property together. For people getting a divorce at 50, we will fight on your behalf to ensure accurate valuation and appraisal in addition to equitable distribution of the property you’ve worked hard to own:
- Family home
- Vacation property or second home
- Recreational vehicles and boats
- Business valuation
- Rental property
- Valuable items, including jewelry, art, and collectibles
Separating Finances in a Divorce
In addition to physical belongings, financial holdings are a part of property division. For people in their fifties, these finances often span a variety of accounts and include future accounts as the couple nears retirement age.
While separating finances may seem difficult, our team of divorce lawyers have helped hundreds of clients successfully acquire the financial holdings that are rightfully theirs. We will help you separate:
- Money market accounts
- Savings and checking accounts
- Investment portfolios
- Certificates of deposit
In addition to the finances you currently have access to, for people who are seeking a divorce at 50, dividing retirement accounts is a factor to consider. Work-related retirement accounts are actually considered marital property if they were funded over the course of the marriage, and those, both parties may be eligible for a portion. We’ll help you understand what you are entitled to under equitable distribution and secure your future. These holdings include:
- Roth IRAs
- Pension accounts
Contact Our Raleigh Divorce Law Firm to Successfully Negotiate a Divorce at 50
Getting a divorce after 50 may seem difficult, but with experienced, knowledgeable legal counsel who are working on your behalf, you can feel confident in your future. To discuss your options and learn more about the steps involved in a complex divorce settlement, call 919-301-8843 or fill out the form below to get started!
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