After decades of building a life together, the idea of divorce can feel overwhelming, especially when it happens later in life. But the reality is, divorce after age 50 (often called a “gray divorce”) is increasingly common. While the process shares similarities with any other divorce, there are unique legal and financial issues that require careful attention.
Whether you’re ending a long marriage or making a fresh start in your fifties, sixties, or beyond, understanding what’s at stake can help you move forward with confidence.
Retirement Assets Matter More Than Ever
In many gray divorces, retirement savings are among the most valuable assets, and dividing them properly is critical.
You may be entitled to a share of your spouse’s pension, 401(k), or IRA. But dividing these accounts isn’t as simple as transferring money. It usually requires a Qualified Domestic Relations Order (QDRO) to legally split retirement plans without triggering tax penalties.
Timing also matters. Poor planning or early withdrawals can result in costly tax consequences or leave one spouse financially vulnerable in the long term. We help clients evaluate the full value of retirement assets and ensure division plans reflect both fairness and financial security.
Spousal Support Is More Common
After a long marriage, it’s more likely that one spouse has significantly more income or assets than the other. If one person stepped away from their career to raise children or support the household, spousal support (also known as alimony may be awarded.
In Virginia, courts consider factors like:
- The length of the marriage
- Each spouse’s income and earning capacity
- Age and health of both spouses
- Standard of living during the marriage
Support can be temporary or long-term, depending on the circumstances. Having a skilled attorney on your side is essential, whether you’re requesting or contesting alimony.
Health Insurance Can Be a Challenge
If you’re covered under your spouse’s employer-sponsored health plan, divorce may leave you without insurance. This can be especially stressful for those not yet eligible for Medicare.
Options may include:
- COBRA coverage (temporary but expensive)
- Marketplace plans under the Affordable Care Act
- Private health insurance or early Medicare enrollment in limited cases
It’s wise to plan ahead and factor these costs into any support negotiations or settlement terms.
You Might Qualify for Social Security Based on Your Ex’s Record
Here’s something many people don’t realize: if you were married for at least 10 years and are now divorced, you may be eligible to claim Social Security benefits based on your ex-spouse’s work record.
To qualify:
- You must be age 62 or older
- You cannot be remarried
- Your benefit must be lower than your ex-spouse’s
Significantly, claiming this benefit does not reduce what your former spouse receives. It’s one way the system offers support to those with limited work histories after long periods of marriage.
Update Your Estate Plan After Divorce
Divorce will impact your long-term legal and financial arrangements.
You’ll want to:
- Revise your will and any trusts
- Change your power of attorney and health care proxy
- Update beneficiary designations on retirement accounts and life insurance
These changes ensure your assets go where you want them to and that someone you trust, not your former spouse, is making decisions if you’re unable to.
Don’t Overlook the Emotional and Family Impact
Divorcing after 50 can bring emotional complexities that differ from those of younger couples. Adult children may struggle with shifting family roles. Grandchildren and extended family dynamics may also be affected.
It’s wise to approach these changes with compassion and communication. The legal process can support that effort by minimizing surprises and clarifying expectations.
Divorce After 50? We’re Here to Help.
At Surovell, Isaacs & Levy, PLC, our Fairfax-based family law attorneys understand the unique concerns that come with divorce after 50. We’ll work with you to craft a strategy that fits your needs and goals—whether that means negotiation, mediation, or litigation. Contact us today to schedule a confidential consultation.
Posted in: Divorce