Married For Over 30 Years & What’s At Risk

After the first ten years of marriage, you felt that you’d made it – gotten through all there was to get through with your spouse. After twenty years of building a life together, you probably noticed how special your relationship was in terms of longevity alone. But at 30 years of marriage, you’re considering getting a divorce.

Are You Considering Getting a Divorce?

It happens. In fact, it’s happening more and more, as people live longer some decide they simply aren’t willing to trudge onwards in a frustrating, miserable marriage. As active living extends well beyond the age it used to, more and more couples are deciding it’s now or never. Break free of an unsatisfying marriage now, or live unhappily ever after till the bitter end.

Dividing Assets After 30 Years of Marriage

Couples who have been married 30 years or more don’t usually have to worry about the children when they split, instead, they have to deal with a whole lot of different issues. There may be anxiety about finances, career readiness, pensions, high value assets, and living alone.

While divorce is difficult for anyone to contemplate, there are some key issues that affect couples who have been married 30 years or more.

Finances

Often, one spouse has handled all the financial matters and the other may not know anything about the finances. This leads to a power imbalance. Thus, support payments (alimony) may become permanent based on the lower-earning spouse’s workplace readiness, health, and the very length of the marriage itself. A potential problem is that pension and investment income will have to replace earned income, perhaps insufficiently to run two households.

Housing

After 30 years of marriage, some couples may have paid off their home. If they decide not to sell, the spouse who remains in the home might have to take out a huge mortgage to buy out their ex; or they could be awarded the home outright as a lump sum settlement. Property division is also an issue: after so many years, it can be difficult to determine personal vs. marital property.

Long Term Care

Married couples support one another as they age, but in the event of a divorce, who will care for you as the years go by? Will you remarry, move in with adult children, or set aside enough money to pay for professional care?

Divorcing after 30 years of marriage can be frightening. There are emotional issues such as adjusting to the new family dynamic and losing the company of your mate. The last thing you want to do is spend your precious resources in bitter litigation. When your long-term marriage ends, choose Fine & Associates to provide expert legal counsel. The end result will be a settlement that enables you to live happily and comfortably in your golden years.