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What are some important factors in a gray divorce?

On Behalf of | Mar 1, 2021 | Divorce |

Gray divorce is when your divorce occurs later in life. Most older couples will no longer have children at home and have marriages that stretch into decades.

Business Insider explains that the concerns in a gray divorce differ from those in other divorces due to the age of the couple. You will need to think about things a little differently than if you were divorcing earlier in life.

Complicated marital property

Due to the length of your marriage, property division may be more difficult. You are more intertwined than a younger couple. Proving separate property may be harder.

You also have to worry about retirement, which is much more complex at this age as you are both closer to retirement age. A loss of retirement funds at this point in life can be much more devastating than it would have been when you were younger because you do not have the time to make them up.

Different expenses

While you may not have to worry about child support because your children are adults, you may have more concerns over healthcare expenses. Alimony may also be more complex since you may retire soon and have a change in your financial situation.

Adult children

You probably will not have custody disputes or other legal issues related to your children, but a gray divorce may actually be more difficult for adult children. You will have to manage their reactions and maybe do more to nurture your relationships. It can be hard for them to adjust to the divorce and to know how to move forward. You need to step up and help your children and maybe even grandchildren deal with the situation.