Divorce can be particularly challenging for those who have been married for 20 or more years. Couples who have spent significant time building a life together may face unique legal and emotional issues when facing the end of their marriage.
Couples may have established different financial situations throughout the marriage, complicating matters if one spouse is the primary breadwinner.
Issues of contention usually revolve around the division of matrimonial assets, such as property and investments and child/ spousal maintenance payments.
Understand Your Situation and the Law
First and foremost, it is essential to understand that divorce is a legal process that involves the division of immovable property, assets, and liabilities, as well as decisions regarding child custody and maintenance.
To navigate the divorce process effectively, you need to understand the law and your rights under the guidance of an experienced divorce lawyer.
Explaining Divorce to Teens
There is a good chance you have teenage or graduating children if you are divorcing after 50. Maybe you have been considering divorce for some time, but you deliberately waited until the children finished their PSLE, O-Levels or University studies to minimise the impact of the divorce.
At this stage of development, the child is discovering their identity and concentrating more on school, peers, and independence than on the home and parents.
Understandably, teens might feel confused, upset, or guilty when they learn about your divorce.
Read more: Effect of Divorce on Children
The Matrimonial Home
If you are at this point in your life, you might wonder what to do with your marital home.
If you are an empty nester, you’ll have to consider whether your undergraduate children will likely return home after graduating or if it’s a good idea to sell the house since they’re primarily at school most of the year.
Equity on the Home
Equity in the home then becomes a significant issue. When divorcing after 20-plus years of marriage, your home might be fully or almost paid off. You now have two choices.
Either:
- One of you will have to obtain a housing loan to buy the other party out of their equity in the home; or
- You sell the matrimonial home each walk away with the corresponding equity to put down on a place of your own after the divorce process is finalised.
Read more: Understanding Property Settlements in Divorce
Financial Contributions
There may be disagreements over how much each partner contributed to their relationship financially or emotionally, leading to disputes about who should receive what from the separation.
In some cases, one partner may seek financial compensation from the other due to a perceived imbalance in contributions during the marriage.
In addition, there may be questions regarding the ownership of and contributions to shared businesses or investments throughout the marriage.
Read more: Direct & Indirect Contributions in Matrimonial Assets
Spousal & Child Maintenance
Of equal importance is the issue of your financial future.
In the case of a 20-plus years marriage, child and spousal maintenance obligations can be complex. It is because there may be multiple issues to consider when determining the amount of money that will flow between both parties.
The length of the marriage, combined with other factors such as income, lifestyle expenses, and any assets or debts associated with either spouse, are all considered when calculating appropriate levels of financial support.
If you were a homemaker, you have probably not been in the workforce for quite a few years. Despite working part-time, your earnings will unlikely be sufficient to support you or any dependent children solely on your take-home pay.
Immediate Financial Support
A party may make an urgent application to the court in circumstances where there is an immediate need for financial support before the divorce is final.
Conclusion:
Divorce is challenging and stressful, but with the right strategies, you can ensure you get your fair share in divorce after 20-plus years of marriage. Identify and understand the issues, seek guidance from an experienced divorce lawyer and stay committed to your goals.
We’re here for you
At Gloria James-Civetta & Co, we aim to find a solution that will work for you and your family. Our matrimonial law team will provide a consultation tailored to your circumstances and needs.
