Divorce And Older Couples: Retirement Assets, Alimony And Other Considerations
Divorce raises unique legal and financial issues for older couples. It may be a second marriage for one or both parties. If it was a long-term marriage or there is a disability, permanent alimony may apply. A spouse with serious disabilities or health problems may get special consideration. The accumulation of pensions and property over many years raises the stakes.
At Lavery Law, you are represented by experienced counsel. With over 75 years of combined experience,
our attorneys can capably address the special issues that baby boomers and other aging clients face in their divorce. Our law firm represents men and women in the greater Harrisburg area and surrounding counties of central Pennsylvania.
Harrisburg Retirement And Asset Division Lawyers
Pennsylvania is an equitable distribution state. The marital estate is not necessarily split 50-50, but each spouse is entitled to a fair share regardless of whose name is on the accounts or the title to property.
For example, pensions and retirement accounts amassed during the marriage are subject to division even if only one spouse worked or contributed to those savings. This sometimes comes as a shock to the breadwinner spouse who worked for many years or to the spouse who stayed at home or worked part time during the marriage.
The court considers many factors in equitable distribution of property, including the age and health of each spouse, income disparity, education and earning capacity, and contributions to child rearing and homemaking.
Pennsylvania family courts typically view alimony as rehabilitative support for a few years at most. For older couples, especially in marriages of significant length, more lengthy alimony may apply. Our attorneys can anticipate whether interim support, temporary alimony or permanent alimony is likely to be awarded in your case.
We can address all issues that may factor into your divorce settlement:
- Pensions and investments
- The marital residence and other real property
- Prenuptial or postmarital agreements
- Business valuation
- Joint debts and liabilities
- Inheritance and issues of separate property
- Undisclosed assets or income