This is not an easy decision to contemplate for most people of your age.
If you married in your twenties, then you are likely at least 57 years old when you ask this question. You’re probably closer to 60.
If you are an affluent couple, and your husband has socked away a lot of money for retirement, at least enough so that half of it would be enough to take care of you until you die, then at least you don’t have that worry.
But if you are a couple of modest means, and there isn’t enough money saved up to carry you through retirement until you die, remember that at least in the state where I practice divorce and family law (Utah), reaching the edge of retirement can be a legitimate basis for terminating alimony. So even if you were to receive alimony until your husband retires at the age of 65, perhaps 67 or perhaps even 70, that may be 10 years tops, and then you’re on your own.
Maybe you will also end up with enough property to make up the difference between your needs and the lack of alimony. Perhaps you and your husband bought a home that, if sold, might net you around $200,000. You’ll probably need that to buy your own replacement housing, but at least you’ll have that to cover housing.
Odds are—unless you and your husband have enough assets saved up to take care of you at the lifestyle to which you have become accustomed for the next 30 years or more—that you will see a significant decrease in your standard of living as a result of divorcing at this age. You will likely need to get a job. And it’s hard to find a job doing much of anything lucrative when you’re in your 50s or 60s. Few employers in the challenging, popular, and well-paying job sectors are looking for someone that old.
Utah Family Law, LC | divorceutah.com | 801-466-9277
