Dallas Gray Divorce Attorney

Fort Worth Lawyers Helping People Over 50 With Divorce

Divorce can be a challenging process for anyone, regardless of their age. However, individuals who are over the age of 50 and getting divorced in Texas often face unique challenges that require careful consideration. As you ponder the idea of divorce, it is natural to feel overwhelmed and unsure about where to turn. At Clark Law Group, we understand the challenges faced by individuals over 50, and we are committed to helping our clients by providing compassionate yet determined legal representation. We work to ensure that their rights are protected while also advocating for their interests during divorce proceedings.

Essential Considerations for Getting Divorced After 50

If you are looking to get a divorce when you are over the age of 50 (commonly known as a "gray divorce"), various issues must be addressed to complete the divorce process effectively and efficiently while preserving your best interests. Here are some essential legal considerations for anyone over 50 who is getting divorced in Texas:

• Property division - In Texas, the law requires community property to be divided in a fair, but not necessarily equal, way. When it comes to property division in a gray divorce, it is essential to consider factors such as retirement accounts, pensions, and other assets that may have been accumulated over a long period. The division of property may be more complicated in these cases. As a result, it is imperative that you work with an experienced divorce attorney to ensure that your assets will be divided equitably.
• Spousal support - Sometimes referred to as alimony or spousal maintenance, spousal support is another essential consideration for individuals getting divorced over 50. Spousal support may be awarded to a spouse who has been financially dependent on the other spouse for an extended period. It is intended to provide financial assistance once the divorce has been finalized so that a spouse will be able to meet their ongoing needs. The amount that will be paid and the duration that spousal support payments will last will depend on several factors, such as the total length of your marriage, the earning capacity of each spouse, and the standard of living you and your spouse enjoyed while you were married. Again, working with a knowledgeable divorce attorney can help you make sure this complicated issue will be handled correctly.
• Retirement accounts - Retirement plans such as 401(k) accounts and IRAs are often significant assets possessed by people who are 50 or older. Often, these accounts may have been accumulated over a long period, and they can be subject to complex rules and regulations. Determining how to divide these accounts fairly can be difficult, and you may also need to take steps to ensure that early withdrawal penalties or taxes will not be applied when transferring funds between accounts held by you or your spouse. As with other aspects of property division, it is crucial to work with a divorce attorney who is experienced in helping clients get divorced over age 50 so that you can mitigate the burden of this challenging and often complex process.
• Estate planning - Issues related to a person's estate are often at the forefront of divorce for spouses over the age of 50. If you die without a will in Texas, your property will be distributed according to the state's intestacy laws. A divorce can affect your existing estate plan, so it is essential to update your plan after your divorce has been finalized.
• Health insurance - If you are getting divorced and are covered by your spouse's health insurance plan, you may lose that coverage after your divorce. It is important to be aware that programs such as COBRA may allow you to stay on your spouse's policy for up to 36 months after the divorce, although it is often preferable to make other arrangements to ensure that affordable health insurance coverage is in place.

Contact a Dallas Gray Divorce Attorney

Ultimately, divorce is a difficult, emotionally taxing experience that can overwhelm even the calmest of people, making them feel at a loss for what to do. Working with an experienced divorce attorney to help you navigate the unique legal considerations that come with gray divorce is crucial. This can give you the confidence that your divorce will be completed in a manner that ensures your property is divided equitably, spousal support payments are fair, and funds in retirement are transferred correctly. At Clark Law Group, we are committed to protecting our clients' rights and best interests throughout the divorce process. Trust us to relieve some of the burdens that come with divorce over the age of 50. For more information on how we can assist you, do not hesitate to contact us at 469-906-2266 for a private consultation.