After sharing a long-lasting marriage with your spouse, it can be devastating to come to terms with the fact that a divorce would be in both of your best interests. Follow along to discover what is considered a gray divorce and how a proficient Suffolk County divorce attorney of the Law Offices of Susan A. Kassel, P.C., can help you work through the issues at hand.
What is considered a gray divorce in New York state?
Gray divorce is a term used to describe couples over the age of 50 who decide to get a divorce. This is a distinguishing term because couples over 50 oftentimes have to deal with different divorce issues from younger couples. For example, child custody and/or child support issues are likely not a component of a gray divorce.
What are common issues that arise in a gray divorce?
The following is a list of unique issues that a couple undergoing a gray divorce must address:
- You and your spouse must divide your pension plans or other retirement accounts.
- You and your spouse must decide whether a new life insurance policy is needed.
- You and your spouse must decide whether inheritances must be divided.
- You and your spouse must decide whether one is required to pay child support for your child’s college education.
- You and your spouse must settle your alimony duration, frequency, and amount if one is collecting social security off of the other’s earnings.
- You and your spouse must distinguish between marital property and separate property.
What are the benefits of choosing mediation for a gray divorce?
In addition, there are benefits to choosing mediation over litigation when going through a divorce. However, this is especially the case with a gray divorce. Such benefits include the following:
- It is cost-effective: Couples over 50 may be retiring soon or already retired. To protect your retirement fund, you may not want to spend a lot of money on your divorce. Mediation costs much less than litigation.
- It is time-effective: Couples over 50 may not want to spend years in a heated courtroom setting. With mediation, resolutions can be reached must faster.
- It is less pressure: Couples over 50 may have specific difficulties and stressors, such as a difficult job, college tuition bills, caring for aging parents, continuing to support children, medical issues, etc. You may not want to add a complex divorce to the mix. With mediation, it will be a much calmer process.
If you believe that you may undergo a gray divorce in the near future, you must employ a talented Suffolk County divorce & separation attorney as soon as you can.
CONTACT OUR FIRM
If you need strong legal representation regarding matters of divorce, family law, and estate law, contact the Law Offices of Susan A. Kassel, P.C. to schedule a consultation today.
