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What are some divorce mistakes that older couples make?

On Behalf of | May 24, 2021 | Divorce

It might seem hard to believe, but people in South Carolina can get divorced at any age–even if both parties are over fifty. Since you’re nearing retirement age, getting divorced at this age is particularly challenging. The decisions that you make now could affect your quality of life for the rest of your years.

What are some common mistakes to avoid?

As you get older, it’s more important than ever to have health insurance. Unfortunately, some people get accustomed to having their spouse’s health insurance and don’t consider what they’ll do when they get divorced. You might qualify for Medicare when you reach 65, but you may have to pay for private insurance or get a job with benefits before then. You could also sign up for health insurance through the Affordable Care Act.

Other people make the mistake of underestimating the cost of living alone. If they didn’t make most of the money in their household, they might get used to a certain standard of living and forget that it wouldn’t be possible without their spouse. During your divorce trial, it’s important to make a budget and figure out how much your expenses might be. This gives you the chance to plan ahead and reduce your expenses as much as possible.

If they don’t think they can afford to live alone, some people try to hide assets during the divorce process. Unfortunately, this can backfire if the judge or your estranged spouse figures out what you’re doing. The judge might rule against you and give your estranged spouse a larger share of the assets. Even if you’re not sure how you’ll support yourself, it’s best to be honest about your assets.

What are the keys to a successful divorce?

Divorce isn’t exactly enjoyable, but you could make it as easy as possible by hiring an attorney. Your attorney could help you navigate the challenges of getting divorced later in life and make sure that you have enough money to live on your own. They could also give you advice on certain issues like making sure that you have health insurance.