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Standing Strong for Your Rights

Gray divorce could impact your retirement plans

On Behalf of | Dec 14, 2021 | Divorce


Generally speaking, gray divorce refers to those who are 50 years old and older when they decide to end their marriages. This type of divorce later in life can present some unique challenges. 

For one thing, individuals involved in grey divorces are usually close to retirement age. Getting divorced can have an impact on how they plan to do it. 

Dividing retirement assets is possible 

First off, you and your spouse may have retirement assets that you’ve already set aside. These can be divided during your divorce, just like any other assets that you own. Examples may include investments that you’ve set up or money that you’ve put aside. Either way, if the money is a marital asset, remember that you have a right to it as well. 

If your retirement plan involves some sort of work-sponsored pension or another fund, you may also be able to divide that fund between you and your spouse. This is even true if your spouse is the one who worked and earned the pension plan while you did not. You may still have a right to it, as it was earned during your marriage, and you can use a Qualified Domestic Relations Order – often simply referred to as a QDRO – to set up what percentage of these monthly payments you will get in the future. 

Creating a stable future 

If you are getting divorced at this age, your goal should be creating financial stability moving forward as you attempt to retire on schedule. Make sure you know about all of the legal options you have to do so.