Getting a Divorce With Retirement on the Horizon

 Posted on May 28, 2025 in Retirement

Retirement is a significant milestone in most people’s lives. As you approach retirement, you may realize that your marriage has become insupportable. If you have been married to your spouse for a long time, divorce can complicate your plans for exiting the workforce. With the help of an Illinois gray divorce lawyer, you can strategize to protect your best interests.

The legal proceedings of a divorce may involve many different financial issues. At Divorce Over 50 - Goostree Law Group, we can support you with our deep legal insights and strong advocacy. Whether you decide to settle your divorce outside of court or you want to pursue litigation, our attorneys are here to help.

Is It Better to Keep the House or Sell It?

If you and your spouse both have an equal claim to the marital home, figuring out what to do with it can be difficult. You could weigh several options, such as:

• Keeping the house in exchange for a lesser share of other assets

• Giving the house to your spouse in exchange for alimony or other property

• Selling the house and dividing up the proceeds

There is no one right answer here. The most preferable option for you typically depends on your sentimental attachment to the home and your financial means. At Divorce Over 50 - Goostree Law Group, we can advise you of the long-term impact of each choice and help you pursue the best option.

Should I Seek Spousal Maintenance?

Divorce before retirement can have serious implications for your financial future. If your divorce would come with significant financial hardship for you, it may be best to request alimony from your spouse. You can negotiate for alimony outside of court or petition for it directly from a judge.

If you decide to ask the court for alimony, the judge will look at your situation as a whole before deciding if spousal maintenance is appropriate. For marriages lasting 20 years or more, the judge may consider an indefinite award of alimony. Keep in mind that while alimony and property division are considered separately, Illinois courts may weigh both to ensure a fair overall outcome.

Will My Retirement Funds Be Divided?

Any contributions to your retirement accounts during your marriage will likely be considered marital property. This means that if you take your divorce to court, a judge can divide up those assets. If you want to split up your retirement accounts fairly and equitably, you can request a court order. A Qualified Domestic Relations Order (QDRO) can divide private retirement plans like 401(k)s, while a Qualified Illinois Domestic Relation Order (QILDRO) is required for Illinois public retirement systems such as TRS, SURS, or IMRF.

Depending on your case, you may not have to split up your retirement assets. Instead, you could negotiate for an equivalent share of marital property. At Divorce Over 50 - Goostree Law Group, our lawyers can help you petition for a fair allocation of retirement earnings.

Contact a St. Charles, IL Gray Divorce Lawyer Today

If you are considering divorce close to your retirement, strategic planning is a necessity. At Divorce Over 50 - Goostree Law Group, our Kane County, IL property division attorneys are here to help protect your future. To schedule a free consultation today, call our offices at 630-634-5050.