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Going thru a Divorce when you are 55

Depending on the state, you may have to pay spousal support for life... make sure you check with your attorney, divorce may end up financially worse off...



A friend who was married for 10+yrs to a guy who wasn't working much would of had to pay spousal support, but her other half didn't pursue it and just took 1/2 her retirement account.
 
BeagleMom, so did you secure a mediator first, or did you get your attorney and then go the mediator route? I'm looking to save as much cash as possible as I really do not want to have to work in my 70"s...thanks

We split amicably, no lawyer. There was an easy DIY form online.

Work out what you can without lawyers. It becomes a fight when you invite fighters. We kept it down to filing fee.

It's not necessarily true that everything must be split 50/50, only that parties agree on what is equitable. The court tried to force us into mediation, but we agreed on everything and so were not candidates for it. Judge signed off very quickly when she found we had no outstanding issues.

Do what you can to keep your kids out of this. Don't talk smack about their parent or any other details of the relationship. When you are talking with the kids, talk about the kids and their feelings, not yours. do not encourage them to take sides, do not entice them to take your side. It's going to be difficult for them no matter what.

Best of luck.

ps -- your marital status according to the IRS is your marital status as of Dec 31. Don't forget to consider how the date of divorce could be better or worse for both of you this year vs last.
 
Do your best to secure a job with a pension. It is hard to build savings but a pension is a cash annuity. Basically a government job.
 
We split amicably, no lawyer. There was an easy DIY form online....Work out what you can without lawyers. It becomes a fight when you invite fighters. We kept it down to filing fee.

Exactly the way I helped my Son and his ex to be handle things. I found a lawyer in the newspaper classifieds who drew up the papers for $35. After that it was just a matter of executing them and going to the Court House and paying filing fees. Until I got involved they both planned to hire lawyers. Who knows what it would have cost them?

George
 
Do your best to secure a job with a pension. It is hard to build savings but a pension is a cash annuity. Basically a government job.

Easier said than done... pension jobs are disappearing. Plus so many pensions are underfunded and many companies will go belly up because of that. I am always envious of those who have a pension. I am a strong proponent for creating your own pension through buying a deferred income annuity. Studiies have shown that the happieat retirees are pensioners even if the income stream is not large.
 
Until I got involved they both planned to hire lawyers. Who knows what it would have cost them?

Smart move.
I left a signed petition and settlement agreement on the kitchen counter.
I included instructions for my s2bx on how to file them.

I then left on a trip to Bonaire that we had planned to take together.
When I got back, I found the hearing had been set for Christmas week.

I went to the hearing to make sure that nothing hinky happened.
Two days later, I bought a new, bright-red Pontiac as a divorce-present.
I named the car, Linda Evans (the "Big Valley" version)...
 
I left a signed petition and settlement agreement on the kitchen counter.
I included instructions for my s2bx on how to file them

Was this how you first informed her that you wanted a divorce? :eek:
 
Was this how you first informed her that you wanted a divorce?

Not eggsactly.
She had pulled the plug a month earlier and put me out with the trash.
That was the day my Florida Gators lost to 'Bama in OT, 40-39 (1999).
Funny how those things stick in one's mind.

.
 
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Doesn't have to be the case. The key is the divorcees working to ensure an amicable relationship and never knocking their ex spouse. It was a little dicey at first but our 3 kids have great relationships with both of us.

George

Kudos to you and your ex.

Both spouses have to want it to amicable. Unfortunately, that typically means both parties want the divorce therefore they are happy/ relieved. My observation is that in most cases (can't quantify but only have seen one amicable situation of at least 50) there is at at least one person with anger because of unresolved issues. Often the one who is asked for the separation has understandable anger, but they need to keep that from the children and don't necessarily do so.

Even if party A tries to stay amicable, if party B is angry, there will be no amicable divorce.

Kids learn to cope and deal with it. They do what they have to do.

Been there, done that, 20+ years ago. Speaking from first hand experience
 
To the OP

I am late in responding to this post, but I wish you all the best. It is scary and lonely to go out on your own but you can and will succeed at it.

Sounds like you have been a strong person all along shouldering the family finances. Stay strong.

Norma
 
my sister divorced at age 52 after 30 years of marriage. She is remarried and very happy now. He did not want to split, he lives in the same town and it is difficult. He wanted to buy the house, and he assumed he would only have to pay her half of what they had paid for it 29 years earlier. He has convinced the kids that she "took him to the cleaners".

As far as divorce lawyers, I can't say anything good . My daughter filed for divorce twenty months ago. The man is an alcoholic and drug addict, he has not given her one penny of child support for the three pre school children or mortgage payments in this time period. He works out of state, and gets DUI's frequently. He has to have supervised visits and hasn't requested one for a year. Yet he is fighting her for custody, he has no home or physical address, and the judge is still thinking about it. He took out another credit card with her name and has amassed thirty thousand more debt with her name attached. The lawyer fees have already been between thirty and thirty five thousand. My daughter works two jobs to try to support herself and the kids, and paid off a huge mortgage til the house was sold (at a loss). She has an order of protection out because he has made threats. Does it make sense that the divorce has not gone through.
 
Easier said than done... pension jobs are disappearing. Plus so many pensions are underfunded and many companies will go belly up because of that. I am always envious of those who have a pension. I am a strong proponent for creating your own pension through buying a deferred income annuity. Studiies have shown that the happieat retirees are pensioners even if the income stream is not large.

Further, OP is 55, so maybe not time to become vested. I'll have to re-read original post as I didn't catch the jobless part.
 
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