Attorney Susan Busby: Collaborative Divorce Addresses Asset Concerns for Older Couples

By Susan Busby

Divorces for older couples are not uniform. Because each couple is different, age is sometimes not the most prominent factor. Many cases with older clients present issues related to retirement income. For example, pension elections and social security elections may have already been made based on being a couple. When assets are being divided, younger couples have more time to accumulate more assets before they retire, unlike couples who are older and who may be retired or nearing retirement. Couples who have retired may have done so based on a presumed budget, but once couples separate and divorce, they add new housing costs to their budgets that were not factored in at the time they decided to retire, which can create a strain on budgets. In the collaborative process, we can work with all of those issues and try to come up with options that can address the concerns for both clients.