Subscribe To This Blog’s FeedIn many ways, gray divorce is effectively the same as any other divorce. The ages of the spouses divorcing have no impact on what laws actually apply. However, gray divorces do tend to be complex for a number of reasons.
Those preparing for gray divorce could potentially make mistakes during the process that have devastating long-term implications. The better that people understand the complexities of gray divorce, the easier it may be for them to navigate the process gracefully.
What are some of the complications that commonly arise during gray divorces?
1. Larger marital estates
The longer that people remain married, the more property they accrue together. Gray divorces often involve spouses who have spent decades together.
They may have paid off the mortgage on their home and funded retirement accounts while married. Those resources can be a challenge to effectively divide. Those on the cusp of retirement are likely to feel anxious about splitting their assets, as they may worry about their financial stability during retirement.
2. Significant social consequences
Couples who have remained married for decades often share many of their closest relationships. They have connections with neighbors and others who attend the same church. They share children and grandchildren with one another.
Older couples preparing for divorce may expect their friends and family members to respond supportively. However, conflict and intense emotional reactions are common, especially for adult children. Those preparing for gray divorce often need to navigate the process carefully to limit the long-term relationship consequences of the divorce.
3. The likelihood of support obligations
Frequently, long-term marriages involve two people who have each taken on certain responsibilities for the family. One spouse may have been the main wage earner, while the other may have cared for the home and any children the couple shares.
Spouses who stayed home with children or deprioritized career development may have fewer separate assets and lower earning potential if they seek out a job. They may request alimony or spousal support as part of a gray divorce.
The older that spouses are and the longer their marriage lasted, the more difficult it can be for them to navigate the divorce process. Securing support and planning carefully can help people pursue the best possible terms and better limit the secondary consequences of a gray divorce.
