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Gray divorce property division may require special considerations

On Behalf of | Dec 26, 2019 | Family Law

Florida is home to many long-term marriages, and if yours appears to have run its course, you may find yourself facing a “gray divorce.” Sometimes, couples may wish to settle down in different ways when they begin to consider their retirement; they may also find that a divorce helps in moving toward their goals. At the law offices of Daniel W. Uhlfelder, P.A., we understand the complexities of dividing property acquired during a decades-long marriage.

Under the Sunshine State’s equitable distribution laws, the court divides all property and assets acquired during a marriage based on fairness. Oftentimes, a couple has one working spouse who generated the majority of the income that purchased their properties. During a divorce, it is up to the nonworking spouse to prove how it is fair for the court to award him or her ownership of a particular asset or property.

According to Kiplinger, some divorcing couples may choose to sell their house and split the proceeds. This provides an opportunity to pay any debts accumulated during the marriage and also have some available cash on hand. If you are a nonworking spouse who has relied upon your working spouse’s income for your home’s maintenance, taxes and insurance, you may wish to consider your ability to pay these in the event that you are able to keep your home.

Many individuals over the age of 50 find themselves working and earning less as they approach retirement. Accordingly, you may need to request alimony or spousal support during the divorce procedure. This may help in supplementing your future income and also your home, if the court determines it is fair for you to take sole ownership.

Our page on family law provides more information about some of the important issues you should consider during a divorce.