Seeking a late-life divorce? A Miami family attorney can help
In our previous post, we covered the growing number of older Baby Boomers in need of a Miami family attorney. If you fall within this age group, you may find that certain aspects of the divorce process take on a greater significance at this stage in life. While the best way to secure a reasonable settlement is to enlist an experienced Miami family attorney, it also helps to have a basic familiarity with these elements.
“While there are differences in the emotional impact of divorce for couples who end their marriage later in life, the biggest difference is that there is less time to recover financially, and this reality colors many of the issues that are unique to late-life divorce,” the web-based legal resource Nolo.com explains.
With this in mind, Floridians who are separating after the age of 50 should play close attention to the following:
Real estate – The source notes that your age may affect the property-related tax exemptions and waivers you can claim. Your Miami family attorney can inform you of other advantages of retaining your home, such as reverse mortgages, rental earnings and retaining equity.
Retirement benefits – Most divorce lawyers in Miami will touch on this subject with their clients, but the issue of dividing these assets is considerably more pressing for those approaching or past retirement age. Consult your Miami family attorney to ensure you complete the necessary documentation for this process.
Social Security – Though not officially included in asset division, Social Security could factor into your divorce. A Miami family attorney can tell you if you are eligible to claim retirement benefits associated with your former spouse’s Social Security, and what support you could be entitled to in the event of their passing.
In future posts, we’ll delve into further detail regarding these aspects of late-life divorce. For more information about this process, contact experienced Miami attorney Scott A. Ferris, Esq. at 305-670-3330 today.