You’ve been married for many years now and have done your best to make it a success. Unfortunately, it just wasn’t meant to be.
You want to begin the next chapter of your life and the first step of this is finalizing the divorce. As you’re over 50 and the marriage lasted for many years, it may be a little more complex than other situations.
Outlined below are a few important factors to consider when divorcing over 50.
Identifying all assets
It may be difficult to define ownership of property that you and your spouse have collected over the years, particularly those items that were purchased earlier in the relationship. Property separation in the Illinois family courts relies on identifying all assets. If this isn’t done successfully, then you could end up walking away with much less than you deserve.
You may have been covered by your spouse’s health insurance for years and not had to give it a second thought. Now that your marriage is coming to an end, this is definitely something you need to consider. Exploring your healthcare options before initiating the divorce process is probably the best way to go.
You and your spouse may have had shared bank accounts, credit cards and debt obligations. This is something you need to consider during your divorce. Knowing what you owe gives you the opportunity to plan ahead and budget for your post-divorce life.
It’s perfectly feasible for you to start again after a gray divorce. Having legal guidance on your side will ensure that the divorce process runs as smoothly as possible.