Divorcing after a Long Marriage

Divorce is never an easy matter, but divorcing after a long marriage has its own unique complications that tend to focus on finances. While you’ve probably already raised your children, dividing your finances and starting over after commingling your lives for many years can be as complicated as it is stressful. A dedicated Joliet divorce attorney will skillfully advocate for divorce terms that support your rights and your future. 

The Division of Your Marital Property

A marriage of many years usually means that you, as a couple, have amassed a good deal of marital property. In the State of Illinois, your marital property will be divided in a manner deemed equitable – or fair in relation to your specific situation – rather than equal. In long marriages, it’s not uncommon for one spouse to handle the finances on his or her own, and if you’re the one who hasn’t had a hand in your household’s financial matters for years (or even decades), it can put you at a real disadvantage upon divorce. Put simply, the financial implications of divorce after a long marriage are complicated, and because securing your financial future is imperative, so is working closely with an experienced divorce lawyer. 

Your Assets

The assets that will be divided upon your divorce can include far more than simply the property you own, and after a long marriage, amassing and valuing these assets in their entirety can be as daunting as it is important. All of the following types of financial instruments must be included in the process:

• Retirement plans and accounts
• Pensions
• Social security benefits
• Investments
• Any other components of your financial portfolio

Getting to the bottom of your worth as a couple is important, and getting it right requires the professional skill of a resourceful divorce attorney. 

Spousal Maintenance

If your spouse was the primary earner in your family, has more separate assets, or has considerably more earning potential, you may be a candidate for spousal maintenance – or alimony – upon divorce. Alimony is predicated on one spouse’s post-divorce financial needs and the other spouse’s financial ability to help cover those needs. If you stayed at home and cared for the children while your spouse worked and/or if you supported your spouse while he or she built a lucrative career, the judge will take these facts (and many others) into careful consideration in determining whether alimony is appropriate, and if so, for how long and in what amount. Generally, the longer the marriage, the more likely it is that alimony will play a role and that it will be of more considerable duration.  

You Need an Experienced Joliet Divorce Attorney on Your Side

If you are facing divorce after a lengthy marriage, your financial future can hang in the balance, but the dedicated divorce attorneys at Sabuco Beck, P.C. in Joliet are well acquainted with the intricacies of complicated divorces like yours and are committed to applying their vast knowledge and experience in their concerted efforts to help you. Our formidable legal team is on your side, so please don’t hesitate to contact us for more information today.