Divorce decisions made later in life frequently come with higher financial risks than if those choices were made at a younger age. Assets usually accumulate with age, and experts say property division for older couples in Florida or elsewhere threatens retirement nest eggs and gives ex-spouses less opportunity to bounce back financially.

Experts contend that individual standards of living decrease for ex-spouses after divorce. Benefits of financial security during marriage are ignored or taken for granted until divorce forces an equitable distribution of assets. Experts say older women have the greatest disadvantage, especially wives who distanced themselves from marital finances or who didn't work during the marriage.

The chance to supplement a post-divorce income is harder because job prospects are fewer for older workers. A person divorcing in retirement may be forced to split pension benefits or other savings that were meant to last a lifetime.

Medical care becomes a concern when one older spouse suddenly drops off the health insurance of another after divorce. Pre-existing health issues, which are more likely as the aging process goes on, can keep an ex-spouse from qualifying for a new health care insurance policy. Even when securing a policy is no problem, the cost might be prohibitive.

A spouse married longer than 10 years and divorced at least two years may also have to share half of his or her Social Security benefits. The division depends on the disparity between the former spouses' benefits.

Since a financial divorce may not be as desirable as a physical one, some older couples are opting for a legal separation. A formal separation can allow older ex-couples the chance to continue to share financial benefits they would lose by heading to divorce court, as long as the couple is agreeable to the arrangement. Experienced family law attorneys can usually help hammer out such agreements.

Source: The Wall Street Journal, "When Divorce Unravels Your Retirement Plans," Ruthie Ackerman, Dec. 24, 2011