Tips for empty nesters seeking divorce in Arizona

June 27, 2013

Empty nesters are taking a moment to re-evaluate their marriages, and more baby boomers than ever before are finding their marriages are less than satisfactory. A recent study conducted by researchers with Bowling Green State University in Ohio found that the rate of divorce for Americans over the age of fifty has more than doubled since 1980. The study seems to show that baby boomers are bucking yet another societal expectation. The common perception that older people do not get divorced is no longer true. The study noted that in 1990, only one in ten divorces occurred between couples over the age of fifty. In 2009, the rate increased to one in four.

Divorcing after 25 years is very different from divorcing after only three years of marriage. As a result, baby boomers should take extra care before completing their divorce.

Tips for a successful baby boomer divorce

One of the more difficult aspects of a later life divorce involves property division. After decades of marriage, a couple has to consider how to split real estate, pensions, retirement plans, savings accounts, pieces of art, jewelry and all other personal pieces of property.

At this stage in life, retirement assets must be split cautiously. Ideally, those over the age of fifty will not be required to work for many more years before enjoying retirement. As a result, pensions, 401Ks and IRAs need to be divided in order to prepare for an enjoyable and financially stable retirement after divorce. In many cases, a QDRO, or Qualified Domestic Relations Order, is required. This court order provides instructions on how to divide retirement assets. Without this order, penalties may be applied to division of the asset.

It is also important to review various insurance policies after a divorce or legal separation. Although health insurance coverage is generally not available after a divorce, it may be available after a legal separation depending on the policy. Health, dental, vision, and many other types of insurance policies are tied to a spouse's employment. Check policies to see if coverage can continue after a divorce. If not, attempt to find coverage elsewhere.

Arizona divorce law basics

Arizona is a no-fault state. That means the only ground for a divorce is an "irretrievably broken" marriage that has "no reasonable prospect for reconciliation." The State Bar of Arizona, an organization of legal professionals, states that although it takes a minimum of 60 days for a divorce to be finalized many divorces take longer. This is particularly true if there are issues regarding property division.

If you are considering a divorce or have recently filed paperwork, contact an experienced Arizona divorce lawyer to discuss your situation and better ensure a divorce settlement that meets your needs.

Article provided by Bishop Law Office
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