If you are facing a divorce later in life, you may be entering a gray divorce. To learn more about gray divorce and what to expect during this process, continue reading and reach out to our experienced divorce attorney.
What is a gray divorce?
When spouses seek divorce later in life, they may be facing what is known as gray divorce.
Why might spouses facing a gray divorce seek mediation?
There are many benefits of mediation, especially for spouses who are looking for a quick and less stressful alternative to litigation. If you and your spouse can relate the following statements, mediation may be a good option to explore:
- You need to save: Divorce can be expensive. Spouses who are divorcing after a long marriage may be entering retirement. Instead of spending their retirement funds on litigation, they may want to protect their funds by seeking mediation.
- You do not want a stressful process: Couples at this age may already have a lot on their plate including the stress of caring for aging family members or planning for retirement. These spouses will want to explore a divorce method that is as stress-free as possible. Mediation can offer a more peaceful process.
- You do not want to waste time: Divorces can take years to complete in some circumstances. Couples who are divorcing later in life will likely not want to spend their time in court. Mediation can offer a quicker resolution than litigation.
What are the most common gray divorce issues?
Gray divorce comes with its own obstacles. The following issues may arise for couples who are seeking divorce later in life:
- Determining alimony duration and amount
- Whether or not a new life insurance policy is needed
- Establishing if inheritances can be divided
- Whether or not they are required to pay for their children’s college education through child support
- Dividing pension plans or other retirement accounts
- Alimony negotiations when one spouse is collecting social security from the other’s earnings
- Determining marital property vs. separate property
If you are facing gray divorce and require the assistance of a divorce attorney, do not hesitate to reach out to our legal team at Graves Andrews, LLC. To learn more about our services and how we can assist you, give our firm a call today. We would be happy to schedule your initial consultation.
Contact Our Experienced New Jersey Firm
Graves Andrews, LLC is an experienced Morris County family law & criminal defense law firm serving all of New Jersey. Contact Graves Andrews, LLC to schedule an initial consultation to learn more about our services and how we can assist your upcoming legal process. Reach out to our experienced attorneys today to get started.