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Retired couples can face their own divorce challenges

For older couples in Maryland and across the United States, retirement age is not necessarily just a time to leave the workplace and enjoy some relaxing time with the family. For an increasing number of couples over the age of 50, divorce is accompanying retirement. The divorce rate for couples over 50 has escalated by 50 percent over the last 20 years and remains on an upward trend, even while the overall rate of divorce for American couples has declined. One out of every four couples decides to divorce after 50.

There are specific concerns surrounding divorce for couples over the age of 50, including those with a significant amount of assets. Retirement planning, asset division and other financial matters can be quite complicated for couples who divorce near or after retirement. This is especially true when the divorce means the end of a long-time relationship accompanied by extensive financial entanglements and shared accounts. These assets may include everything from Social Security benefits to 401(k) plans and investments.

The financial challenges of divorce for older couples are often accompanied by the emotional impact. When people end their marriage later in life, it can be shocking news to family and friends who have seen the couple together for years. This could add additional stress when dealing with the emotional reactions of people around the couple.

A family law attorney can provide advice, guidance and representation for anyone of any age considering divorce. For example, a lawyer could help ensure that each partner receives a fair distribution of assets and property.

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