If you’re going to be pursuing a “gray divorce” (those in their 50s and older who are ending their marriages) soon, you’re likely going to have very different concerns and priorities than those divorcing in their younger adult years do.
You likely don’t have to worry about child custody and support (or, at least not for long), for example. However, you’re probably concerned about how you and your spouse will split your retirement savings, investments and the property you’ve accumulated.
If you’re planning to retire within the next decade or sooner, or maybe you’re hoping to simply reduce your workload, you’re likely wondering what divorce will mean for those plans. You may be particularly concerned if your soon-to-be ex will be seeking spousal support (alimony).
How is spousal support determined?
How is the amount and duration of alimony determined in Pennsylvania? This concern is based on many factors, including both spouses’ income, earning potential, age and health. If you’ve had a long marriage, and your spouse largely gave up their career to be a stay-at-home parent and perhaps isn’t in the best of health, you could be looking at paying support for years.
Does that mean you can never retire? No, it doesn’t. As long as you retire at a reasonable age for your line of work or you need to retire for health reasons, a court likely will grant a modification of your support order or even agree to end it.
How can you make a case for reducing or ending support?
When the time comes, you’ll likely need to provide evidence to the court that your retirement (whether it’s full or semi-retirement) is reasonable. The court will almost certainly want to review this information your ex objects to reducing or ending your support payments. You’ll also probably need to show what your post-retirement financial picture will look like. The court will look at your other sources of income, like Social Security and other retirement benefits, investment income and more.
They’ll also look at how a proposed modification will affect your ex’s financial picture. Have they made an effort to get the skills and experienced needed to support themselves? What other sources of income and benefits do they have?
Given the stakes at issue, it’s typically best if you and your spouse can discuss impending retirement during your divorce negotiations. This can help to mitigate a risk of unpleasant surprises and pushback when the time comes. Addressing your concerns with your legal team is also a good idea, again, due to the stakes at issue.