Special Circumstances in Fresno Gray Divorces
Just as every relationship brings with it certain challenges, so does every divorce. The details surrounding a couple’s separation are personal and often quite specific. This can be especially true for couples over 50 seeking a separation – otherwise known as a “gray divorce.” There are differences to splits that occur when is a couple is in their 20s, 30s, or 40s. Gray divorces must factor in the couple’s age and any potential benefits that may come with it. These particular benefits can greatly impact what either individual is owed, once the proceedings have concluded.
If you are over 50-years old and are considering, or are presently involved in, a divorce, consider some of the following factors:
- Social Security – Depending on how long you have been with your spouse, you could be pursue substantial benefits through Social Security. Depending on your age and the age of your former partner, you could be eligible to receive up to 50% of their benefit package. If your former spouse has recently passed, you could potentially earn up to up 100% of the total benefit package.
- Retirement – This is always a particularly tricky part of any divorce, especially one that may be so close to retirement age. There are a number of retirement benefits you may be eligible for through your former spouse depending on the length of your marriage. Some other considerations include: how much you may have contributed to the retirement, if they have passed recently, or if you are protected under the military’s Survivor Benefit Plan.
We recommend anyone who is planning to separate from his or her spouse and is over the age of 50 to contact us. With the help of the Law Offices of Rick Banks, you’ll be able to make an objective and educated decision on how to proceed. You can reach us at (559) 222-4891.