Divorce can strike a person’s life at any age. Sometimes, it may occur after spouses have been married for 40 or more years and they divorce at an older age. These cases have become known as gray divorces. Originally, the term came from the idea that anyone married for this long must have been starting to gray. However, it has become more commonly used for couples in the baby boomer generation who are in their 50s and 60s. Continue reading below to learn more and contact an experienced New Jersey divorce attorney for help with your case.
How Can Mediation Help a Gray Divorce?
Spouses of an older age who are going through a gray divorce may benefit from using mediation in order to settle these matters instead of going through litigation. This may be in the event of the following:
- Spouses do not want to waste money. Divorces can be expensive and spouses who divorce at a later age may already be retired or planning to retire. It is because of this that they may want to protect their funds for retirement by not spending unnecessary money on a litigated divorce. Mediation is less costly.
- Spouses do not want to waste a lot of time. Divorce proceedings can sometimes take years. Older couples generally do not want to spend these years of their life in court hashing out details that can be handled quicker through mediation.
- Spouses do not want any more stress in their life. They may be facing other difficulties in life, such as medical issues, their job, caring for elderly parents, supporting their children, etc. The last thing they may want is to go through a complicated divorce and mediation allows for a more peaceful process.
What are Important Gray Divorce Issues to be Aware Of?
Separating the lives of two people who were brought together over a long period of time is not easy. It is because of this that certain issues can arise in a gray divorce, such as the following:Â
- Determining alimony duration and amount
- Determining marital property vs. separate property
- Establishing if inheritances can be divided
- Alimony negotiations when one spouse is collecting social security off the other’s earnings
- Whether or not a new life insurance policy is needed
- Dividing pension plans or other retirement accounts
- Whether or not they are required to pay for their children’s college education through child support
Contact our Firm
We understand that those getting a divorce most likely have several questions regarding the weeks and months to come. Paris P. Eliades Law Firm, LLC is honored to serve the people of New Jersey, including Sparta, Sussex County, Morris County, Passaic County, and Bergen County with the quality legal services they deserve. If you are getting a divorce or have any other questions regarding divorce-related matters, please do not hesitate to contact our firm for a consultation today.
