For couples in Kentucky divorcing after age 50, there are several divorce issues that may be especially pertinent. These issues can be especially pertinent for those going through a high-asset divorce who may have amassed a lot of wealth over the years and have multiple complex assets.
First of all, if a couple has had a long-term marriage, it is common for one party to pay spousal support after a divorce. While alimony for younger couples may only last as long as it takes for the spouse receiving the alimony to be able to support him or herself, an alimony award could last longer or even be made permanent in some situations, if a spouse is of an age where becoming self-sufficient would not be feasible.
In some circumstances, one spouse may want to keep the family home after a divorce. However, it is important to keep in mind that if one spouse keeps the house, the other spouse may be awarded something of value to even things out. For this reason, some spouses decide selling the marital home and splitting the proceeds is a better decision.
Couples should also be aware that a divorce affects their retirement income. After all, retirement assets go through the property division process just like any other piece of property. Oftentimes, retirement plans are divided equally between spouses.
Whether the divorce was a long time coming or whether it came as a complete shock, it is important to make sure one's interests are protected. Couples should also endeavor to keep a clear head during the divorce process, so that they can make decisions that are to their benefit.