Several months ago, Bill and Melinda Gates announced that they were divorcing after almost 30 years of marriage. While many in the media and public voiced their surprise that the couple were splitting up after so many years, divorce among older couples – sometimes referred to as “gray divorce”  – is becoming quite common. Research shows that one in four people who file for divorce in the U.S. are over the age of 50 and more than half of those divorces involve marriages that had endured for at least two decades. 

While every divorce has similar issues to work through, there are some issues that are unique to older couples that younger couples usually do not have to consider when they split up. These issues – if not properly addressed – can leave a person unprepared for life after divorce. Having a Frisco divorce attorney protecting your interests can make a significant difference in how prepared you are.

Pensions and Other Benefits

One important issue that couples going through a divorce have to consider is how their pensions and other retirement accounts will be divided. Any retirement accounts and pensions will be divided using a court-issued Qualified Domestic Relations Order (QDRO). However, one issue that an older couple may face when dividing these accounts that a younger divorcing couple does not is that their retirement date is not that far away, and they may find themselves facing financial hardships they are unprepared for. If a spouse’s retirement account is suddenly 50 percent less than what they had planned on for retirement because their ex received the other half in the divorce settlement, that reduction can have a consequential effect on the quality of retirement life they will experience.

Most people think of divorce in terms of the personal or emotional implications. However, divorce can also bring about dramatic financial consequences – especially when a divorcing spouse is reliant on the other spouse’s income. If you are a stay-at-home mother or father, have a disability, or have otherwise not worked outside of the home in several years, you may be worried about supporting yourself after the divorce. You may wonder whether you qualify for alimony or spousal support. Read on to learn about alimony laws in Texas and what you can do if you wish to pursue alimony during your divorce.

Who Qualifies for Spousal Maintenance?

Alimony, called spousal maintenance in Texas law, can help a divorcing spouse cover necessary expenses until he or she is able to be financially self-supporting. However, spousal maintenance is not always awarded. In fact, Texas courts presume that spousal maintenance is not necessary unless the spouse requesting alimony can demonstrate a reasonable need for financial assistance.

To qualify for alimony in a Texas divorce, you must not have sufficient assets to provide for your basic needs on your own. Additionally, at least one of the following statements are true:

This blog has recently discussed the benefits of mediation and also debunking myths about mediation. It is also helpful to understand the value of divorce mediation in the context of the goals of mediation.

The goals for divorce mediation

The goals of divorce mediation include:

• The creation of an equitably, legally sound and mutually acceptable divorce settlement agreement;
• Avoiding the expense and trauma oftentimes associated with litigation; and
• Minimizing hostility and post-divorce controversies

By achieving the goals for divorce mediation, the divorcing couple may not only reach a divorce settlement agreement that is favorable but may also enjoy the benefit of creating a framework and process for resolving future disputes that may come up. The mediation process uniquely positions the divorcing couple to achieve their divorce-related goals because of the unique nature of the process and its differences from divorce litigation.

Divorce is a legal process that ends a marriage. It is often accomplished in the courts of Texas, but it can also be completed through alternative means. One of those means is mediation, and for some readers, the idea of divorce mediation may be completely new.

Mediation is a process that uses collaboration and cooperation to settle legal matters, as opposed to the adversarial process of divorcing in court. This post will address 3 myths that individuals may wrongly believe about mediation as a tool to achieve a divorce, but readers are reminded that this post does not offer legal advice. When a Texas resident has questions about divorce and their options, they can turn to a trusted Frisco family law attorney who works with both mediation and litigation divorce clients.

Myth #1: Can’t get a satisfactory outcome through mediation

It is a common myth that a divorce must involve fighting and high conflict. This is not true. Though some divorces happen in court and involve significant differences and dispute, others are worked out between the parties with limited involvement from others.

Divorce mediation is a different way of handling the divorce process and is an alternative for divorcing couples to familiarize themselves with. Divorcing couples should understand the potential advantages of divorce mediation and how to prepare for the divorce mediation process.

Potential advantages of divorce mediation

The following are some advantages of mediation

• Saves time and money: mediation means avoiding the formal divorce process which can be more costly and time consuming. Compared to litigating a divorce, mediating it can be a more efficient process for the divorcing couple.
• The process is fair to everyone: mediation involves a third-party neutral who helps the divorcing couple resolve their divorce-related concerns. As an objective party, the mediator may be able to help the divorcing couple reach solutions they may not have otherwise considered.
• The process is more private: mediation is not a public process and does not create a public record. For that reason, it can be more private which can be easier on the divorcing couple and any children from the marriage.

How to prepare for divorce mediation

To prepare for divorce mediation, the divorcing couple should: