Navigating the Complexities of Ending a Long-Term Marriage

While many people still associate divorce with marriages that seemed doomed from the start and only lasted a few years, “gray divorces” have become much more frequent. The phrase refers to a phenomenon by which spouses who are middle-aged or older choose to go their separate ways, often after decades of marriage. For some, the fact that children are grown and out of the house makes it easier to seek a divorce. Also, as we get older, we often focus more on living life to the fullest, and that can motivate someone to end a relationship that is not working. 

Just as there are many reasons why a long-term marriage might end, the challenges associated with the divorce process magnify when a couple decides to part ways after many years. If you are divorcing your spouse following a decade or more together, It’s important to speak with a qualified attorney about a variety of issues, such as:

• Unwinding financial ties — Resolving the division of assets and debts accumulated over more than a decade, potentially including investment accounts and real estate holdings, can be very complex. Equitably distributing marital property and debts from a long-term union requires a thorough understanding of financial documents, tax implications, and valuation methods.
• Spousal support — In long-term marriages, one spouse might have earned all or most of the family income while the other handled most of the domestic responsibilities. As a result, the stay-at-home spouse might not have the ability to meet their financial needs after a long time out of the workforce. Factors such as each spouse’s earning potential, health, and the length of the marriage play a pivotal role in these decisions.
• Retirement and estate planning — Divorcing later in life means that the parties are closer to retirement age, which often necessitates revisiting plans previously made for their senior years. Pension plans, Roth IRAs and 401(k) accounts are divisible marital assets, and there are several ways in which they can be allocated in a divorce. You might also wish to revise your estate plans, including healthcare designations, to adjust to your new situation.  

Along with the legal concerns, ending a long-term marriage can be incredibly disruptive emotionally. If you are in this situation, you likely believed for many years that you and your partner would be together as long as you both were alive. Our compassionate legal team at The Henry Law Firm, P.A. recognizes the toll a breakup can take, and we provide supportive guidance while advocating for our clients’ best interests. If you are considering divorce after a long-term marriage, please call 913-381-5020 or contact us online to schedule a consultation. We are located in Overland Park.