Supporting Illinois Spouses Through Gray Divorce
Ending a marriage is never easy; it especially isn’t easy for couples who’ve spent decades together. Untangling years of accumulated assets and navigating new family dynamics can be challenging. However, the ups and downs of a gray divorce don’t have to tarnish your dreams and goals for the future.
The Chicago divorce attorneys at Taege Law Offices are here to support you through every step of your divorce so you can live life on your terms. We can help you navigate your gray divorce effectively so you can move forward.
Common Issues That Arise In Gray Divorce
Those divorcing later in life can run into unique challenges when they split. Here are a few examples of how their circumstances can make things complicated:
Remarrying
When one or both spouses end up remarrying, that can complicate their divorce, especially if spousal support payments are involved or one spouse wants to bring a piece of shared property into their new marriage.
Our lawyers have seen numerous scenarios like these and can tailor our legal approach to effectively meet your needs and devise a strategy that keeps your best interests in mind.
Stepchildren
If spouses wind up with stepchildren when they remarry, that can lead to challenges surrounding inheritance. In some cases, this could lead to probate issues. Courts typically determine what is in the children’s best interests even when they’re adults. Those who remarry after a gray divorce may consider getting a prenup with their new spouse to avoid potential inheritance issues.
Complex Assets
Spouses can accumulate numerous assets over the course of their marriage. And while dividing QDROs, retirement assets, real estate, and other assets in divorce can come with challenges, some assets may have significant value over the years. Sometimes, this can make dividing assets much more contentious or leave both parties feeling like they need more time to recover financial losses from splitting those assets.
Frequently Asked Questions About Gray Divorce In Illinois
Here are some answers to frequently asked questions we receive from our clients:
Can an Illinois attorney assist same-sex couples with gray divorce cases?
Absolutely. Illinois recognizes same-sex marriage and the principles of property division and other legal issues apply equally to same-sex couples going through divorce. An Illinois divorce attorney’s extensive family law experience helps them understand your gray divorce case and what it costs to come to a successful resolution.
How is the division of family homes and real estate handled in a gray divorce?
Illinois law dictates an equitable division of marital property during divorce. For a fair legal outcome, our team considers the following factors:
- Length of marriage
- Value of the property
- Each spouse’s contribution to acquiring the property
- Each spouse’s financial needs
Other legal options, including negotiation or litigation, can be used to achieve a favorable resolution.
How does a gray divorce impact Social Security benefits?
If you have been married for at least 10 consecutive years, you can still be entitled to benefits through your ex-spouse’s Social Security retirement benefits as a divorced spouse. This does not affect their Social Security retirement benefit in any way.
How can Taege Law Offices support me in managing the costs of a gray divorce?
Understanding the financial implications of a gray divorce can be difficult on your own. At Taege Law Offices, we can help you understand how your income may change, what assets and debts may be yours to keep, how your divorce may affect your retirement plan and the impact of taxation on both your property division and any spousal support.
How can I book an initial consultation with Taege Law Offices, and what personal information do they require?
To schedule an initial consultation, contact the Taege Law Offices office at 312-667-7706 or via our online form. Bring any relevant financial documents, such as tax returns, property deeds and investment statements. You should also bring any existing prenuptial or postnuptial agreements.
Further reading:
- 5 unique considerations in a gray divorce
- 4 reasons for the rise in over-50 divorce
- How does a QDRO work?
Feel Confident About Your Next Chapter – Call Today
Your divorce does not define you; you have a whole life ahead of you. Schedule a free consultation with an attorney who understands the nuances of family law in Chicago. Call 312-667-7706 or complete our online contact form.