Planning For A Gray Divorce In Florida
Divorce tends to be a difficult process regardless of the parties’ ages. Couples who divorce after retirement, however, often face unique challenges, which can make the process even more complex. Read on to learn more about some of the issues you may encounter if you file for a gray divorce.
What is Gray Divorce?
Gray divorce is a term used to refer to the increasing divorce rate among couples who are over the age of 50 years old. There are a number of factors that could be contributing to this trend, such as changing attitudes about marriage and divorce. The stigma surrounding divorce, for instance, has diminished significantly in recent decades, while more and more couples are entering into non-traditional partnerships. Increasing financial independence for women, who have more economic freedom due to advances in education and career opportunities, may also be contributing to the willingness of older women to file for divorce.
The Legal Challenges of Gray Divorce
While obtaining a divorce is perhaps easier than it has been in previous decades, ending a marriage still has a lot of emotional and financial implications, especially for those who have already retired. Retired couples, for instance, often have less time and opportunity to recover financially from the sometimes expensive proceedings of ending a marriage. Divorce can also have serious implications for retirement planning, with many spouses now having to divide a pension or savings account that they had planned to share. Retirement accounts aren’t the only types of assets that it is more difficult for older couples to divide during divorce. Besides having to consider giving up possessions that they may have had for decades, older couples are also more likely to have complex assets, like investments and real estate. Figuring out how to split these assets up fairly can be extremely difficult, as both parties may wish to retain them.
The Emotional Impact of Gray Divorce
There are also emotional considerations for older couples who decide to divorce. Separating from a spouse after many decades together, for instance, can be a daunting prospect and it often proves hard for these individuals to adjust to post-divorce life. Children, friends, and family members will also likely be affected by the transition, which can make a difficult situation even more complicated. Many couples also struggle with loneliness and feelings of displacement after divorce. It’s important that couples have a thorough understanding of these issues before they go into the divorce process.
Call Experienced Florida Divorce Lawyer Sandra Bonfiglio, P.A. for Assistance
If you and your spouse are retired and are planning on ending your marriage, you may be facing some unique challenges when it comes to dividing your savings and retirement accounts and other assets. To learn more about what to expect when filing for a gray divorce, please call dedicated and compassionate Fort Lauderdale divorce lawyer Sandra Bonfiglio, P.A. at 954-945-7591 or contact us online today. Let us put our experience and resources to work in your own case.
Sources:
americanbar.org/groups/dispute_resolution/publications/JustResolutions/just-resolutions-march-2022/how-grey-divorce-differs-from-a-typical-divorce/
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html