When spouses choose to get divorced later in life, this is often referred to as gray divorce. The term was initially coined based on the idea that couples who are married for over 40 years may start to gray. However, it has become more commonly known among divorcing couples who are in their 50s and 60s. To learn more about gray divorce and what to expect, continue reading and reach out to our experienced New Jersey divorce attorney for assistance with any upcoming divorce or family law matters.
How might mediation help a gray divorce?
There are many benefits of using mediation for spouses who are going through a divorce at an older age. Mediation may be a good choice for a couple in the event of the following:
- They are looking to save money. Divorces can be expensive. Spouses who are going through a divorce at a later age may either be retired or planning to retire. They may want to protect their funds for retirement by seeking mediation instead of spending money on a litigated divorce.
- They are not looking to waste time. Divorces are known for taking years to complete. Couples at these ages may not want to spend their time in court. Mediation can offer a quicker resolution.
- They do not want any more stress in their life. Spouses who are divorcing later in life may be facing other difficulties such as supporting aging loved ones. Mediation can be a more peaceful process.
What gray divorce issues should I be aware of?
There may be further issues that may arise regarding gray divorce including the following:
- Dividing pension plans or other retirement accounts
- Whether or not they are required to pay for their children’s college education through child support
- Establishing if inheritances can be divided
- Alimony negotiations when one spouse is collecting social security from the other’s earnings
- Determining marital property vs. separate property
- Whether or not a new life insurance policy is needed
- Determining alimony duration and amount
If you are facing a gray divorce and require further assistance with your upcoming legal proceedings, do not hesitate to contact our New Jersey divorce attorney. Our legal team is prepared to assist you to achieve the best possible outcome for your divorce.
Contact our experienced Ocean City firm
Matters of divorce and family law require the attention and skill of an experienced attorney who will fight for your future. Not only is your financial well-being at stake, but in a divorce, both you and your children’s emotional well-being are at risk as well. If you need a divorce and family law attorney in Ocean County, New Jersey, please do not hesitate to contact the Law Office of Sarina Gianna, LLC today to schedule a consultation.