‘Twilight Divorce Property Division’ Consideration of severance pay and pension for retirement

Recently, an increasing number of couples are ending their long marriages after their children have grown up and are approaching their twilight years. Divorce between couples who have been married for more than 20 years is called twilight divorce, and its proportion has steadily increased, reaching 38.7% of all divorces last year, according to data from the National Statistical Office. This means that 4 out of 10 divorced couples divorced in their twilight years.

Experts analyze that with the changes of the times, women's economic status has increased, life expectancy has increased, and the social atmosphere that regards divorce as a natural personal choice has also played a role, leading to an increase in divorces at dusk.

In general, looking at cases that lead to divorce at twilight, there are many cases in which the wife endures the husband's one-sided interference, nagging, and control, then explodes and decides to divorce, and there are many cases in which the husband chooses freedom because he does not like the wife's nagging or financial demands.

While alimony, custody, and child support are issues in the divorce of a typical young couple, division of property is the biggest issue in a twilight divorce. In principle, the assets subject to division are all assets that the couple has accumulated through their cooperation during marriage.

This includes deposits, savings, real estate, stocks, etc., as well as future income such as property, severance pay, and pensions. However, in principle, ‘unique property’ owned by the spouse before marriage or inherited or gifted is excluded from division.

The standard for determining the division ratio is determined by the degree of contribution to the growth and maintenance of property, so even a housewife who has no job or economic activity can be recognized for her contribution to the maintenance and growth of the property. If you support your spouse by taking full responsibility for housework and childcare, half of it becomes your responsibility.

The division of property in the event of a divorce at twilight is an issue that inevitably leads to sharp conflict because the quality of life in retirement is determined by the outcome, and as people age, property is directly related to the issue of livelihood itself or economic independence.

The degree of contribution to property division may vary depending on the duration of the marriage, the presence of unique assets, etc., so in order to be recognized for a fair share, you must obtain the assistance of a divorce lawyer to determine the exact situation and actively utilize legal evidence methods such as inquiry or tracking of property in the name of the parties either ex officio or upon application.

Help: Attorney Lee Seon Choi of Daeryun Law Firm (Limited)

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