People get divorced at any age. In some cases, spouses may be married for 30+ years and end up divorcing at an older age. This has become known as a gray divorce. The term was originally coined due to the idea that anyone married for this long was an older person starting to gray. Today, it is more commonly used for couples in their 50s or 60s, also referred to as the generation of baby boomers. 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?
Individuals going through a gray divorce may benefit from going through mediation in order to settle their proceedings. This may be if the spouses:
- Do not want to waste a significant amount of money. Spouses who divorce at a later age may either already be retired or planning to retire soon. That is why they may want to protect their retirement fund and not spend much on divorce proceedings by going through litigation. Instead, mediation is a less costly option.
- Do not want to waste a lot of time. Divorce proceedings can sometimes take years. Older couples usually do not want to spend a lot of time going through and hashing out the details. Mediation allows the process to go quicker.
- Do not want to add any more stress to their life. Individuals at this age may be facing other challenges in their life, such as medical issues, a demanding job, caring for aging parents, supporting their children, etc. The last thing they may want is to add a complex divorce into the mix. Mediation provides a more peaceful process.
Important Gray Divorce Issues to be Aware Of
It is not easy to separate the lives of two people brought together after a significant period of time. It is because of this that it is important to be aware of important issues that may be present in a gray divorce, such as:
- 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
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Ross and Calandrillo, LLC is a full-service divorce, family, and real estate law firm located in Mountainside, New Jersey. For strong legal representation in all of your divorce or family law matters, contact Ross and Calandrillo, LLC to schedule a consultation.