Have you ever heard of a “gray” divorce? This term refers to a marital split between two people who are over the age of 50. The divorce rate for this demographic is skyrocketing. Why would a long term marriage come to an end at advanced ages? There are a few factors at play; beginning with the fact that life expectancy has increased. Once a couple’s children have grown up and moved out, they may find themselves with little left in common. With a large part of their life still ahead of them, they want a new beginning.
The issues associated with “gray” divorces, are more diverse than cases involving younger couples. With children no longer living in the house, “gray” divorces do not involve acrimonious custody disputes. However, for well-established couples, there are complex issues that require legal guidance. Important considerations must be made with regards to: retirement plans, inheritances, social security income, disability income, alimony, and passive income. A fair property division will oftentimes play a determinative role in the party’s ability to move forward successfully in their new lives.
If you, or someone you love, are involved in a “gray” divorce situation, call our office today to speak with family law attorneys with experience in these important issues. Their future might depend on it!