Select Page

When older New York couples decide on a divorce, the issue of alimony or spousal support may reflect a vital issue. Many individuals do not plan to work full-time after reaching 65 and the family courts allow spouses to request financial support regardless of age. Preparing a budget ahead of time may help prove how much you will need.

The amount of support you may receive generally depends on your household’s income during the marriage. If you did not work, you may have relied upon your spouse’s earnings, which could reflect an amount greater than what you can earn on your own.

Understanding how much income you expect to earn in your new single life may help prove your case for the required amount of support. To make up for a deficiency, you may request enough to maintain your standard of living. Unless you effectively demonstrate the need, however, you may also find yourself painfully disappointed when you see a judge’s support decree.

As reported by Bloomberg, individuals over the age of 50 could see a divorce reduce their wealth by as much as nearly half. According to a survey conducted with 20,000 baby boomers, researchers found that the standard of living for divorced women dropped significantly by 45%. For divorced men, however, the standard of living only dropped by 21%.

The study showed that men had a tendency to remarry after a divorce, which may result in a second income earner contributing to their new household. Older women who divorced, however, tended to remain single. Requesting as much spousal support as possible and demonstrating the need for it may be important factors in your ability to meet basic living expenses while single.