When people decide that their marriage needs to end for whatever reason or reasons, they often deal with extremely complicated issues that involve their property division, child custody and visitation and other legal issues that must be resolved in order for a court to dissolve a marriage. However, there are also problems that can be encountered by spouses who are 50 years old or older that many do not consider, but that should be reviewed and explained by a Carlsbad family law lawyer. Below are a few of these potential complications.

 

Taxes

People who are 50 years old or older generally have more saved for retirement in different locations than those people in their 20’s. In fact, for many couples, these retirement accounts represent their largest asset. However, a common mistake that’s made when property is divided in a community property state such as California is the taxes that will be due when withdrawals are made from these accounts. These tax rates can run as high as 35 percent.

Spousal Support

It’s generally more common for couples older than 50 to have one person obtain spousal support, as marriages where only one spouse worked were more common 30 years ago. Therefore, those spouses who do not work have likely been out of the workforce for some time and will likely not have a high employment ceiling for that and other reasons. However, those receiving spousal support should not assume that the paying spouse will continue to work for a long period of time, and he or she should make alternative plans for support in case something unexpected occurs.

Estate Planning

Finally, when a couple that has been married for a long period of time seeks an end to their marriage, it’s likely that they will have estate planning details to either undo altogether or to modify. Those who are seeking a divorce need to make sure that there are no surprises, as the only ones who are likely to get hurt because of such a mistake are the children.

Ultimately, seeking the end of a marriage between spouses over 50 can be complicated, but it can also be completed civilly and relatively quickly if that’s what the parties desire. If this includes you, seek the help of Carlsbad family law attorneys who have helped many people end their marriages without the stress and cost of litigation. Contact Zonder Family Law today to schedule an initial consultation.