Gray Divorce: Division of Retirement Assets Disparity

Be Sure To Hire A Divorce Attorney With Experience In “Gray Divorce” Cases

gray divorce divisionAn interesting article published in the Arkansas Business Journal discussed the issue of divorce with retirement age individuals.  As a founding member of the International Academy of Attorneys for Divorce Over 50, I personally am quite familiar with the unique issues that often arise in these “gray divorce” cases. When discussing the financial background of many couples aged 50-60, the typical equal asset allocation can be problematic.

These couples are more likely to have combined their retirement planning and savings. Over the past 5 generations, the workplace demographics have shifted.  Often, many couples who marry today both pursue a career path and develop their own separate retirement accounts.  In the 1950’s and 1960’s, married couples often relied financially on the men in the relationship to be the primary “breadwinner”.  This means that when a retirement account is discovered during the divorce process, and it’s distributed equally, each party will be left with 50% of their retirement assets even though they are often only a few years away from retirement.  Fair, right? Maybe not.

Let’s consider this scenario of Mary and John.  Mary and John … Read More... “Gray Divorce: Division of Retirement Assets Disparity”