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A new beginning while a marriage is ending

While divorce rates for many age demographics remain steady, marital dissolutions among spouses 50 and older have never been higher. Since 1990, the number of couples in this specific demographic ending their marriage has doubled.

Regardless of age, divorces between spouses of advancing years are usually more complex. Significant assets are often involved and require division when the knot is untied later in life.

When Later In Life-Changing Events Occur

Retirement savings provides a certain level of control over an employee's financial future. Setting aside a percentage of income in a 401(k) or IRA helps to proactively prepare for the end of a lengthy career. Yet, while many wind down their professional lives with sound monetary strategies, changes in their personal lives often come without warning.

No one can plan for the unexpected end of their marriage. However, mediation can empower spouses when a divorce is imminent. A skilled attorney-mediator can help people take control of this life-changing event and assist them in maintaining their financial security.

An Attorney-Mediator Can Help You Secure Your Future

When the waning days of a career intersect with the end of a marriage, mediation can serve as a means to both ends. An attorney-mediator educating both sides on the various scenarios can help divorcing spouses understand the advantages and disadvantages of all of their options.

Equally as important, an attorney-mediator can help parties deal with emotional attachments to valuable, long-held financial assets - some that may have tax implications. For example, one spouse can keep their hard-earned pension not subject to economic ups and downs while the other maintains ownership of the family home.

Working with an attorney-mediator facilitates important decision-making and an understanding of how their choices affect everyone's personal and financial well-being. Effective mediation can help spouses find and accept a middle ground that is workable and fair for both.

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