Tips For A Gray Divorce
Legally ending a marriage is not reserved for young couples. In fact, divorces between older couples, also often referred to as a “gray divorce” are on the rise across the country, a trend that has been attributed to a variety of factors, including longer life spans and the increasing financial independence of spouses. Whatever the cause, gray divorces tend to come with their own unique set of issues, including the presence of adult children, more assets to divide, and the question of permanent alimony. To learn more about gray divorce in Florida and how to go about ending your own marriage in a way that is best for you and your family, please reach out to an experienced Fort Lauderdale divorce lawyer today.
Get Help with Your Assets Early on in the Divorce Process
One of the most difficult aspects of resolving a gray divorce is deciding how to divide assets between the parties. This is due primarily to the fact that couples are more likely to accrue significant assets after a lengthy marriage. Furthermore, differentiating between separate assets and marital assets can become more difficult over time, with couples often left unsure of which assets are their own and which qualify as marital property (and so are divisible upon divorce). Working with a forensic accountant is a good idea in any divorce, but can be especially critical in gray divorces, where the parties will need to identify and trace all of their assets and debts. This kind of analysis is of the utmost importance in ensuring that a couple’s assets are divided fairly.
Don’t Forget About Your Adult Children
Couples with adult children often make the mistake of assuming that their divorce won’t have a significant impact on them. This, however, often doesn’t prove to be the case. Aside from the emotional impact of a divorce after a long-term marriage, divorcing can also affect a child’s finances. This is especially true for those who rely on their families for college tuition or as co-signers on a residence. This can create a complex and emotionally charged situation if not addressed prior to the finalization of the divorce.
Consider Alternatives to Litigation
Divorce can quickly turn into a legal battle, especially when dissolving a lengthy marriage, where emotions are likely to be high. Fortunately, it is possible to avoid litigation and long drawn-out court battles that drain the parties’ energy and finances. Using mediation, arbitration, or another alternative dispute resolution technique, for instance, can help keep negotiations amicable and can reduce the cost of the divorce. The latter often proves crucial for older couples, who may have less time to recoup their finances after divorce, especially if they are no longer working.
Have You Decided to File for Divorce in Florida?
Going through divorce after a lengthy marriage comes with unique challenges. For help navigating this type of complex legal situation, please call 954-945-7591 and set up a free consultation with dedicated Florida divorce lawyer Sandra Bonfiglio, P.A.