One in four divorces occurs between spouses over the age of 50. “Gray divorce” differs from divorces between younger people, who have more opportunity to rebuild their asset base post-divorce. Kiplinger’s Retirement Report for May, 2023, has an article which counsels that older adults considering divorce need to fully understand their finances and need a good team – lawyer, financial planner, accountant and maybe others – to help keep an eye on what’s relevant to divorce in later years. What’s relevant includes, among other things, health insurance and not getting fixated on particular assets such as the family home. Above all, you need to “click” with your lawyer. https://www.kiplinger.com/retirement/gray-divorces-can-upend-your-retirement-plans
LAZAR SCHWARTZ & JONES, LLP
