Divorcing after a Long-term Marriage

Divorcing after a long-term marriage presents legal and emotional challenges. After years or even decades together, separating assets, determining spousal support, and coping with the emotional impact can be overwhelming. Understanding divorce law can help you make informed decisions and protect your interests.

Financial Independence and Budgeting

Transitioning to financial independence after a long-term marriage can be challenging. Creating a post-divorce budget will help you manage expenses and plan for the future. Consider housing costs, health insurance premiums, alimony, child support payments, savings, and retirement contributions. Start by listing all your expenses and sources of income. Monitoring your spending provides information that can be used to adjust your budget. When planning a budget, prioritize essential expenses while setting aside money for unexpected expenses. Closing joint accounts and opening individual accounts in your name can help you establish financial independence.

Division of Assets and Property

In Georgia, courts follow the principle of equitable distribution when dividing property. Under this system, marital assets are divided fairly but not necessarily equally. The court considers many factors when diving assets, including the length of the marriage, each spouse’s financial contributions, and their future earning potential. Non-financial contributions, such as homemaking and raising children, are also considered.

Marital property includes all assets and debts acquired during the marriage. Separate property, including inheritances, gifts, and assets owned before the marriage, typically remains with the original owner. Disputes may arise when separate property becomes commingled with marital assets. Proper documentation and financial records are essential to support claims of separate property.

Spousal Support

In Georgia, spousal support, commonly called alimony, is awarded on a case-by-case basis. Courts have broad discretion when determining whether and how much alimony to award. After a long-term marriage, alimony is more likely to be granted, particularly if one spouse is financially dependent on the other.

The court considers several factors when deciding on alimony, including how long the couple was married, the standard of living established during the marriage, and each spouse’s financial resources. If one spouse sacrificed career opportunities to care for the family or support the other spouse’s career, the court may award long-term or permanent alimony. If both spouses are self-sufficient, alimony may not be necessary.

Temporary alimony may be granted during the divorce to ensure the lower-earning spouse can meet their immediate financial needs. Rehabilitative alimony may be granted to provide financial support while the recipient spouse acquires the necessary education or training to become self-sufficient.

Courts in Georgia will also consider each spouse’s age and health, particularly in cases where one spouse may not be able to work due to medical conditions. Each spouse’s conduct during the marriage can influence the court’s decision. If one spouse engages in marital misconduct, the amount and duration of alimony can be impacted.

Retirement Accounts and Pensions

Dividing retirement accounts and pensions in Georgia can be complex. Marital portions of retirement savings are subject to equitable distribution. A Qualified Domestic Relations Order (QDRO) may be required to divide these assets. This ensures that retirement funds are transferred without tax penalties or early withdrawal fees. Pensions, IRAs, and 401(k) accounts are often divided using specific formulas to calculate the marital portion.

Healthcare and Insurance

Healthcare can be a significant concern for divorcing spouses, especially for those who rely on their partner’s employer-sponsored insurance. In Georgia, COBRA coverage allows a former spouse to continue receiving coverage under their ex-spouse’s plan for up to 36 months, though at a higher cost.

Medicare may be an option for those nearing retirement age. Spousal support agreements may sometimes include provisions for covering ongoing medical expenses, particularly if one spouse has significant health concerns.

Estate Planning Adjustments

Divorce significantly impacts estate planning. It is important to update any wills, trusts, and powers of attorney to reflect the new circumstances. If a former spouse remains named on life insurance policies or retirement accounts, these designations may override the terms of a will.

Identifying guardianship preferences and determining financial provisions for the children are essential steps for couples with minor or dependent children. An estate planning attorney can help ensure your wishes are properly documented and upheld.

Emotional and Psychological Impact

Ending a long-term marriage is often emotionally challenging. Feelings of grief, loss, and uncertainty are common. Many individuals find support in Georgia through counseling, therapy, or support groups. Seeking professional help can be beneficial during this difficult time.

Family and friends can also provide valuable emotional support. Rebuilding your life post-divorce takes time, and developing a strong support network will help you navigate the transition.

Legal Counsel and Mediation

Divorcing after a long-term marriage can be a complex process. A family law attorney will advocate for your interests in property division, spousal support, and other legal matters. They will inform you of your legal rights and advocate for your best interests during negotiations.

Mediation may be an option for couples seeking a less adversarial approach to their divorce. A neutral mediator can facilitate constructive discussions and assist in reaching mutually agreeable solutions. Mediation can be more cost-effective and less time-consuming than litigation.

Need Legal Support for Your Divorce in Georgia?

Divorcing after a long-term marriage can be overwhelming, but Hecht Family Law is here to help. We’ll be by your side, offering compassionate support and strong legal advocacy. Whether you prefer mediation or need aggressive representation in court, we will guide you every step of the way. Contact us today at 470-291-5342 to schedule a free case evaluation and take the first step toward your fresh start.