Although the overall divorce rate is still high, it has declined significantly in recent years. The over-50 divorce rate has trended the opposite way. Marriage dissolution matters in this age range have doubled over the last two decades. All divorces usually involve significant emotional and financial issues. Gray divorces have some unique issues in this area. Since these are uncharted waters for most over-50 couples, these issues require even more awareness and preparation.
A Rolling Meadows family law attorney is uniquely qualified to handle these emotional and financial matters. We begin each gray divorce case and each divorce case with a thorough talk. We want to know your situation and your goals before we suggest a plan of action. Then, as the case progresses, we continually stand up for your legal and financial rights while, at the same time, we try to amicably resolve these matters out of court.
Even though they may be grown and gone, older couples must still think of the children in these situations.
Adult children are much less emotionally resilient than young children. Additionally, adult children have a lifetime of happy family memories to deal with, and young children may only remember a Christmas or two.
The emotional fallout is often significant and unexpected. Many adult children “blame” the mother or father for the divorce. As a result, they often retaliate by severing emotional ties between themselves and their parents or their children and their grandparents.
A legal separation could be an option in these situations. This provision of Illinois law is loosely based on the informal “Irish divorce” that was once an option for feuding older couples. Although Husband and Wife remain legally married, the judge divides property and, if appropriate, determines child and spousal support obligations. For the record, Irish voters legalized divorce in this staunchly Catholic nation in the 1990s.
Legal separation often provides some additional emotional stability while setting new ground rules. Usually, however, the spouses want clean breaks. In these cases, a cathartic pre-divorce last hurrah, like a holiday party, family reunion, or camping trip, might be a good idea. These episodes often allow people to turn the page more easily.
The average length of a marriage which ends in divorce is a little over seven years. These marriages often involve small marital estates. When a twenty-plus year marriage dissolves, the estate is often quite large, especially in terms of retirement account balance and home equity amount.
Selling the house and dividing the proceeds is the cleanest option, but not always the best one. Many people over 50 still have minor children at home. Alternatively, the market might be depressed. In either case, it is usually a bad time to sell a house.
An owelty partition lien could fit the bill in these situations. One spouse takes title to the house, and the other spouse obtains a lien for his/her share of the equity at the time of divorce. Later, when the owner spouse sells the house, the lien must be paid with interest. To ensure proper and timely division, divorce decrees often contain mandatory sales provisions (e.g., the owner spouse must sell the house within eighteen months).
401(k)s, IRAs, and other nest egg accounts often have more than a significant financial value. They have a significant emotional value as well. Financially, different benefit plans have different rules regarding the division of an account balance. Emotionally, if one spouse is determined to hold onto a greater share of this account, an offset is usually available (e.g., I’ll pay more alimony if I get to keep the IRA).
Various legal solutions are available for your changing family. For a free consultation with an experienced family law attorney in Rolling Meadows, contact Andrea Heckman Law, Ltd. After-hours and virtual visits are available.
Walked in just for consultation, and in less than 45 days, my case was closed! Thanks to attorney Andrea Heckman, with all her passion and professional manner! Couldn’t be happier! Thank you so much for everything! Great attorney for all family needs! Thank you.
From the moment I walked in as a client to the end when everything was complete, I was very pleased with attorney Andrea Heckman, her knowledge, and professionalism! Her whole staff was always helpful. I would use them again if needed and refer them to everyone I know! Thank you.
Andrea Heckman has been my attorney helping/guiding/advocating for my children and I regarding my custody situation. We are in the process of working towards a more equal parenting schedule, and I have faith in her efforts and expertise to accomplish this.
I have used this office since 2018 and have nothing but excellent things to say. Andrea Heckman handled my divorce with no faults. Andrea is currently handling my child custody case and has been on top of everything! Andrea Heckman is an unstoppable force, and I would recommend her to anyone!
I could not ask for a better attorney to represent me during my case which is Andrea Heckman. Anytime I had any questions, I got a response in a timely manner. Andrea walked me through a very difficult time which was a divorce/child custody case. Andrea is very knowledgeable and motivating. The staff has been nothing but welcoming and professional. If I have to go to court for anything, I will definitely be giving this firm a call again.
Heckman Law is handling my divorce/custody. Andrea is very professional, knowledgeable, and responsive. She will take the time to answer and explain any questions you may have. She usually responds within a few hours. Honest about possible outcomes, whether it’s good or bad news. My ex doesn’t want to negotiate or cooperate with anything. Andrea is willing to fight in the courtroom for you. The case is ongoing.
I was represented by Andrea Heckman, and if it wasn’t for her, I would have been so lost. She guided me through my difficult situation. Some lawyers are about money. I knew that Andrea cared about me and my situation.
Ms. Heckman is a great lawyer. She helped me get time with my daughter when my ex was being nasty and refusing to let me see my baby. I thank her for all her hard work.
Ms. Heckman managed our parents’ will and advanced care planning documents expeditiously, skillfully, and with compassion during a stressful situation. We referred her to a family member for divorce with child custody issues, and she was pleased enough to refer her to 2 others for divorce services. A true professional.
Please contact our law office in Rolling Meadows for legal assistance with divorce, child custody, or visitation issues. We serve clients in the Chicago metropolitan area who need the help of an experienced and dedicated family law attorney.