Minnesota Gray Divorces – The After 50 Minnesota Dissolution

GrandmotherStatistics for divorcing couples show that the majority of divorces filed are those involving folks older than 50Grandfather years.  Most of these couples have been married for at least 25 years or more; have raised their families; acquired many assets; and, maybe some debt.  They usually own a home and maybe a second home.  One spouse may have worked and the other stayed home to raise the children.

How is the gray divorce unique?

As a rule of thumb, the longer the marriage the more complex the divorce.

Locating all the assets is probably the most time-consuming divorce chore.  Minnesota is an equitable property state so the Court is going to look towards an equal split of all the assets as much as possible.   The non-working spouse may also need financial help in the form of spousal maintenance to meet his or her necessary living expenses.  Retirement assets need to be located and divided as well.  A couples’ real property should be appraised and divided or assigned to one party.  The couple may also have business interests that need to be valued and divided.

The children are usually grown so custody and parenting time is not an issue. But, if any of the children are still in college the cost of tuition and expenses are topics for discussion. If a  couple has co-signed for the children’s  student loans that debt has to be considered in the allocation of assets and debt.

Older divorcing couples have issues with Social Security.   Social Security Benefits should be reviewed for both parties.  Link to:  Social Security Retirement & Divorce.

In short, long term marriages usually require a fairly sophisticated analysis and may benefit from the assistance of counsel.

Kate Willmore, St. Cloud, Minnesota, Divorce, Family Court Lawyer, Father’s Rights Lawyer & Mediator

Call Kate at Google Voice at (320)200-9502 for quick access.

(320) 217-6030  or kaw@katewillmorelaw.com

http://www.katewillmorelaw.com

Copyright 2014

 

About Kate Willmore, Esq.

Kate Willmore, Saint Cloud, Minnesota, divorce, custody and family attorney brings over 25 years experience to every client's legal matter. *** Licensed in Minnesota and in California

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