There are plenty of people who dislike their marriages in their 60s, but some of them believe that they’re too old to move forward with a divorce. Divorcing in your 60s can have some significant implications for your retirement and savings, but if you are unhappy or unsafe in your marriage, there is no reason that you cannot divorce. It just requires that you do take some time to prepare.
There is no age that is too old to get a divorce. In your 60s, you may still have decades left to live on your own, participate in your favorite pastimes and enjoy your life without a spouse you don’t want to be with. However, you do need to think about how you’re going to divide your assets and if there will be enough to support you in your retirement. Sometimes, divorcing can mean spending a few more years at work or having to keep a part-time job into your late 60s or 70s, but not always.
Dividing your property
Dividing your property in Texas should begin with the assumption that you’ll be splitting your assets 50/50. Texas is a community property state, so all of your marital assets should be divided equally.
However, you can keep some of the assets for yourself if you’re able to show that they were separate assets from before your marriage or that the assets is exempt, such as if it’s an inheritance that you kept in a separate bank account.
Your retirement matters
You should also think about your retirement matters as you work through the property division process. Are there pieces of property you can divide, so that you retain a home? Do you have a 401(k) plan that needs to be divided or other assets that you can liquidate to make sure you have a secure budget? These are questions to ask yourself, so that you can determine if you will be able to divorce and support yourself in the future.
It’s never too late to start anew
It’s never too late to start fresh in your life. If you aren’t happy or compatible with your spouse any longer, then it may be time to move on. Start by getting copies of your important documents, and then look into your legal rights to decide if a divorce is right for you.