Most people do not enter into a marriage thinking that it is going to end in divorce. At the same time, divorce is a possible reality in any marriage. There are a lot of people who assume that if a divorce is going to happen, it will happen during the first few years; however, this is not always the case. There are plenty of situations where people get divorced later in life. This is termed a gray divorce, and it has a lot of important implications, particularly for retirement assets.
What is a gray divorce, and why does it happen? Learn more about how a divorce at this stage might impact you, and make sure your rights are protected by reaching out to an experienced attorney in Florida.
First, we need to define a gray divorce. Even though the exact age can vary, a gray divorce typically takes place when the divorcing spouses are over the age of 50. Often, these are members of the Baby Boomer generation, but this is not always the case. Even though the rate of divorce has dropped during the past few decades, the rate of divorce is on the rise for people over the age of 50.
Anyone who gets divorced later in life goes through a gray divorce. There are a number of complicated factors that can dictate how the divorce will be resolved, which is why it is important to rely on a legal professional who can make sure your rights are adequately protected.
Typically, people assume that couples who are getting divorced at this age have been married for a long time. So, why are they getting divorced now? There are a number of reasons why this might happen. They include:
First, it is important to address the assumption that people who get divorced later in life have been married for a long time. This is not necessarily the case. Some people who are getting divorced at this age have not been married that long. They may be on their second, third, or even fourth marriage. Therefore, even though they are older, they might not have been married for that long. They realize that they are not compatible, and they decide to get divorced. The cycle may repeat itself, and it could repeat itself later in life.
Another reason why older couples get divorced is that they have been putting off an inevitability. It is not unusual for couples to stick it out until they raise their children. Even though they might not agree on very much, they might agree that they need to stay together for their kids. Once the kids have left the house and go to college, or after they have graduated college, the couple may decide to get divorced. They may also believe that if they get divorced after their kids are already out of the house, the process will be easier. Regardless of the situation, it is important to trust an attorney during this process.
Some couples do not necessarily wait for the kids to leave the nest before they decide to get divorced; however, without the kids taking up all of their attention, they realize that they have gotten bored. For example, couples can spend more than 20 years raising children. People change during this time, and a lot of couples do not communicate well with one another as they focus all of their attention on their children. Once their kids are gone, they realize that they have grown apart. When this happens, they may decide to get divorced.
Furthermore, a lot of people decide to retire when they get older. They may have been focusing all of their attention on their work, and once they retire, they may not know what to do with their time. Some couples realize that when they have to spend all of their time together, this is not necessarily a happy experience. Therefore, they believe it is better for them to pursue their disparate interests by divorcing.
Regardless of the reason, there are a lot of important issues that have to be discussed. One of the most important topics during any divorce is alimony. How does alimony work during a gray divorce?
Alimony payments represent payments that one spouse makes to the other to support him or her as he or she gets back on his or her feet. For example, if a couple gets divorced during the younger years, alimony payments might be ordered until the other spouse can find a job or go to work to earn the skills to start a new career. These alimony payments are designed to end after a certain amount of time.
In a gray divorce, people may not necessarily plan on going back to work because of their age. Therefore, are alimony payments still awarded? Yes, there are situations where alimony payments might be ordered, but they might be handled differently. For example, if the spouses decide to equally split the retirement assets, alimony payments might not be required. Or, the court may still decide that one spouse needs to pay the other spouse alimony for the rest of his or her life.
Keep in mind that alimony payments are often terminated in the event that one spouse gets remarried. This same rule applies in a gray divorce. If a spouse receiving alimony decides to remarry, the alimony payments could be terminated. This is up to the discretion of the court.
No matter what age at which you get divorced, it is important to rely on an attorney who can help you through these complicated issues. There are a lot of topics that need to be discussed, and this is still true if you get divorced when you are older. You need to have a legal professional who can advocate for your rights and protect your best interests, and that is where we can assist you.
At Aaron Delgado and Associates, we have an unparalleled level of experience dealing with divorces in Florida, and this includes gray divorces. We will review your circumstances with you, talk to you about your goals, and put your case in the best possible position moving forward. Contact us today for a case consultation.