A divorce at any age is a stressful experience, but senior couples who split encounter some unique challenges. If you're an individual 50 years of age or older, it can be helpful to understand some of these in more detail so you can be prepared for the changes that will accompany your divorce. Below, the family law attorneys at Brandau & Waltz Law Offices LLP in La Crosse, Wisconsin, share what you should know about divorcing after 50.

Family Law 101: What to Know About Splitting Up When You’re Over 50

1. Protect Your Retirement Accounts

In many divorces, retirement accounts are divided between spouses. Since you are closer to retirement at 50 then you are at, say, 30, you need to ensure these assets are divided up accurately and lawfully. A Qualified Domestic Relations Order, or QDRO, is one legal document used to legally divide funds in an account like a 401(k). This is a separate document from a divorce judgment and requires approval of both the court and the company managing the retirement account.  Your attorney can assist you to ensure everything is in place if a retirement account is being divided in your divorce.  Your ability to access funds will be controlled by the rules of the underlying retirement plan, so it is important to talk to your attorney about your goals.

2. Know the Rules for Social Security

Social Security payments cannot be split up during a divorce. However, there are some rules that could impact your benefits and your future financial plans. For instance, if you are at least 62, you may be able to collect Social Security on your ex's record without lowering their benefit payments. Also, if your ex passes away, you might be eligible to collect survivor's benefits, if you  qualify. Your family law attorney can explain the relationship between Social Security and divorce in more detail.

3. Get Health Insurance of Your Own

If you are on your spouse's health insurance plan and the two of you get divorced, you will no longer be eligible for coverage under their name except through COBRA provisions. This means you will have to find health insurance of your own, and, as getting older often comes with more advanced medical needs, it is essential to understand your options and  obtain adequate coverage. This may take some financial planning on your part, but if you are 65 or older, you will qualify for Medicare, which can be a great help.

If you are facing the end of a marriage, trust the family law and divorce attorneys at Brandau & Waltz Law Offices LLP to guide you through the process with skill and compassion. With more than 50 years of combined experience, this legal team serves clients throughout Wisconsin and Minnesota. Call (608) 784-2050 or visit their website to schedule a consultation today.