There are few things more complicated than getting a divorce. Unfortunately, whether you’re young or old, divorce is a complex emotional, financial, and legal process. That said, couples who get divorced later in life often have a host of unique issues to settle before they can officially divorce. When a couple over the age of 50 gets divorced, it is known as a “gray divorce.” Though there was a time when couples would stay married for life, regardless of their disagreements, this is no longer the case, and we’re seeing a greater number of gray divorces than ever. If you’re about to get divorced as an individual over the age of 50, you must continue reading and speak with a dedicated Shelby County, Tennessee divorce lawyer from Rice Law to learn more about how these divorces are different and how our legal team can assist you through the legal process ahead. Here are some of the questions you may have:
What makes a gray divorce more complicated than younger divorces?
Though couples who are getting divorced later in life still have to deal with many of the same issues as younger couples, there are some key differences. To start, since older couples may have grown children of their own, child custody and support may no longer be an issue. However, certain facets of these divorces, such as spousal support or property division may be more complicated. For example, couples who’ve been married for several years likely have jointly-held bank accounts and intermingled assets, which can make dividing this property more complex. Additionally, couples getting divorced later in life mayt have to worry about dividing up retirement plans, losing their health insurance, and more. Getting a new life insurance policy may also come into the equation. Further, since many spouses getting divorced later in life are at an age where it’s either impracticle or impossible to rejoin the workforce, in which case receiving alimony becomes all the more important, as this may be their only source of income going forward.
If you have any other questions about the divorce process here in Tennessee or you need an attorney who can help you, please don’t hesitate to reach out to Rice Law today.
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