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Divorce after decades of marriage

The end of a marriage is difficult, especially if that marriage has lasted for decades. If a couple decides to divorce after decades together, it is important to be cautious and thoughtful regarding financial matters and future stability. Divorce is now more common than ever among couples in their fifties and up, but there are sensitive issues that can affect a "gray divorce." 

In these divorces, there are often significant financial assets at stake. Retirement and long-term savings are especially important for a person nearing the end of his or her career, and as a result, property division may become a highly contentious and difficult process. It is important that a person refrain from accepting any financial settlement until he or her has consulted with an experienced California attorney.

Getting divorced after a long marriage will have a major impact on finances. If one spouse has not worked for the duration of the marriage or is already retired, it could significantly impact monthly income, lifestyle and expectations for the future. While keeping the family home or accepting another valuable asset in lieu of an equitable portion of retirement savings may be tempting, it is important to make decisions based on a strong future instead of temporary emotions.

There are many delicate and difficult issues to navigate when facing a gray divorce. California couples who are taking this step after years of marriage would be wise to work closely with a lawyer who can analyze a situation and protect the client's interests long into the future. Divorce is difficult, but with the right support, it is possible to move on toward a financially stable future.

Source: marketwatch.com, "Divorcing after being married for decades? Here's what to do", Alessandra Malito, Dec. 14, 2016

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