The number of people getting divorced later in life is on the rise. According to a recent article published by the Institute for Family Studies, the number of divorces of those over the age of 65 is going up while the overall divorce rate is trending downward. There are a number of reasons why couples may choose to divorce later in life. Gray divorce can be challenging because the years together make property and asset distribution more complex. An experienced divorce attorney will guide you through the process.
What is Gray Divorce?
Gray divorce is a term that broadly refers to divorce when couples are older than 50. Baby boomers are a group that is often part of the gray divorce wave. “Gray divorce” is not a legal term but has come to mean divorce when a couple is older. Older couples may have been married for years or decades and may have adult children and grandchildren. Divorcing later in life can be more difficult because of the many years of intertwined finances and accumulated property.
Why are There More Gray Divorces?
People are living longer than ever, and couples may decide that after years of marriage, they have grown apart. They may feel that they can still follow their own dreams, which may not always include their spouse. Sometimes, couples stay together until the children are grown. Once they are empty nesters, they may decide that they have nothing in common and each would prefer to follow separate paths. Spouses may realize that they have time to find happiness in their lives.
What Makes Gray Divorce More Complicated?
Gray divorce tends to be more complex than divorce between younger spouses. Couples who have been married for years have more complicated finances and likely have more assets and property. Couples may disagree about the distribution of various assets during a divorce. Uncoupling later in life can also have some emotional trauma, not only for the spouses, but also for their children and grandchildren. The family will need to create a new dynamic that can be challenging for older individuals.
Resolving Settlement Distribution Issues
While older couples may not have issues regarding child custody and visitation, they may still have disagreements about how to divide their assets. Other issues that may be of importance include retirement accounts and healthcare expenses. North Carolina law provides for an equal and equitable distribution of marital assets. Couples must itemize and evaluate their assets in order to come to an agreement about asset division. Couples may want to seek assistance from a mediator to resolve difficult disagreements about divorce settlements.
Divorce can be difficult at any age, but it can be especially daunting when you are older. A knowledgeable divorce attorney understands the many issues involved and will work to help achieve a fair and equitable distribution. Your lawyer will guide the process from start to finish, making the situation easier and less stressful. Call us today at Arnold & Smith, PLLC, at (704) 370-2828 to talk to our knowledgeable legal team.
The family law practice group at Arnold & Smith, PLLC includes four Board-Certified Family Law specialists and one Child Welfare Law specialist, as well as several attorneys with many years of family law experience that are committed to providing a powerful voice to individuals facing the often-tumultuous issues in this area of law. The range of issues our family law clients may be facing include pre- and post-nuptial agreements; separation agreements; post-separation support; child support (both temporary and permanent); absolute divorce; divorce from bed and board; military divorce; equitable distribution of assets; child custody (both temporary and permanent); retirement benefits and divorce; alimony and spousal support; adoption; and emancipation. Because this area of the law is usually emotionally charged and complicated, the family law attorneys at Arnold & Smith, PLLC act with the utmost dedication to ensure that each client understands his or her options, and then act to achieve the best result possible for that client’s particular situation.
Source:
https://www.nccourts.gov/help-topics/divorce-and-marriage/separation-and-divorce
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https://www.freeimages.com/photo/couple-toasting-wine-1943574
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