Naperville Over Age 50 Divorce Attorney

Naperville Divorce Lawyers for People Over the Age of 50

Getting a divorce can be a complex process at any age. However, a gray divorce, which generally includes situations where spouses are over the age of 50, will often involve a unique set of challenges and considerations. At Law Office of Ronald L. Hendrix, P.C., our attorneys are well-versed in addressing these specific needs. We work to ensure that our clients fully understand the issues they will need to address and the best steps they can take to protect their interests and maintain financial stability throughout the rest of their lives.

Division of Complex Assets

For couples who have spent decades together, their finances and other aspects of their lives may be closely entangled. Over a long marriage, a couple may have acquired a wide variety of assets, including real estate, business interests, or investment portfolios. In Illinois, all marital assets must be divided equitably between divorcing spouses. Each party should receive a fair share of the property they own, ensuring that they will have sufficient financial resources after completing the divorce process. 

Our attorneys are adept at navigating complex property issues and ensuring that assets are distributed fairly. We can ensure that different types of assets are valued correctly, and we can help negotiate property settlements that are fair and equitable. If necessary, we can take steps to uncover any hidden assets and ensure that they can be divided properly.

Eligibility for Spousal Support

Spousal support or alimony is not always a factor in Illinois divorces, but it may be appropriate in cases involving older couples. The purpose of spousal support is to provide continuing payments to a spouse who may be at a financial disadvantage while ensuring that both parties can maintain their standard of living. In a gray divorce, spousal maintenance may be appropriate if one spouse did not work during the marriage or earns a lower income than the other spouse. Our attorneys will carefully analyze the factors that may affect spousal support and advocate for appropriate arrangements to ensure that our clients will be able to meet their ongoing needs.

Retirement Issues

Older couples who plan to get divorced may need to take steps to ensure that they will have sufficient financial resources upon retirement. Any retirement funds or pension benefits that a spouse earned during the marriage may need to be divided between the spouses. When dividing retirement benefits, a couple will usually need to use a qualified domestic relations order (QDRO), which is a court order that will be provided to a plan administrator with instructions for how funds will be transferred or pension benefits will be allocated. Our attorneys can help negotiate agreements for dividing retirement accounts and pensions, and we can ensure that QDROs will be created to effectuate the division of these assets.

Older spouses may also need to determine how their divorce will affect the Social Security benefits they can receive. A person who has not worked during their marriage or who has a limited work history may be entitled to receive  Social Security benefits based on their ex-spouse's record. Our attorneys can provide guidance on how to address issues related to Social Security benefits, ensuring that our clients can plan strategically for their retirement.

Medicare coverage could also be affected by a gray divorce. If one spouse has been dependent on the other spouse's employment benefits to address their healthcare needs, they may need to determine what options are available after their divorce. We can advise our clients on their options for receiving Medicare or other healthcare coverage, ensuring that their medical needs will be met after their divorce.

Contact Our Naperville Gray Divorce Lawyers

For those who are over the age of 50, the divorce process is likely to involve multiple complex issues. At Law Office of Ronald L. Hendrix, P.C., we can help address the unique challenges that may arise during a gray divorce. We advocate for solutions that will help our clients ensure that they can move forward into their golden years successfully. To learn more about the legal services we provide to divorcing spouses, contact us at 630-355-7776 and set up a complimentary consultation.