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Issues related to gray divorce in Texas

Gray divorce is a term that refers to separating spouses who are age 50 or older. Research indicates that the rate of divorces in this age group has doubled between 1990 and 2014. Experts believe that one reason for the significant increase in gray divorces is due to the fact that there is no longer as much of a social stigma associated with divorce.

When an older couple gets a divorce, they are likely to see dramatic changes to their financial situation that may affect their retirement. Retirement accounts will need to be divided, and individuals will not be able to rely on two incomes or retirement accounts.

For many individuals, getting divorced later in life means either delaying retirement, since a person will often need to replace funds depleted from a retirement account, or figuring out a way to cut down on living expenses. In some cases, seniors have to do both. Individuals may need to stay open to the idea of continuing to work or downsizing their living expenses, even if it means selling their home.

There are certain divorce matters that are common to individuals ending their marriage no matter when the divorce occurs. Most people will have to deal with property division when they get a divorce. In most cases, any property accrued while a couple was married is marital property that is eligible to be divided. A lawyer could explain to a client what property may not be considered marital property as well as which assets may be in their best financial interest to pursue.

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Bruce Turner

In addition to his law degree, Bruce Turner has a master's degree in tax law and is Board Certified in Commercial Real Estate Law by the Texas Board of Legal Specialization.

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Turner, Bruce E.
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Bruce Turner with Bennett, Weston LaJone & Turner, P.C.

Attorney Bruce Turner is located in Dallas and represents people and businesses throughout DFW and the Metroplex, including Denton, Carrollton, Lewisville, Flower Mound, Farmers Branch, Irving, Las Colinas, Corinth, Highland Village, The Colony, Plano, Frisco, Allen, McKinney, Mesquite, Grand Prairie, Garland and Grapevine as well as Collin County, Denton County and Dallas County in Texas.

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