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What You Need to Know About Gray Divorce

What You Need to Know About Gray Divorce

More and more people are deciding to take the next step and start over at a later stage in their life by ending their current marriage. This is known as gray divorce, which consists of people generally over the age of 50. While divorce is complex and difficult at any stage of your life, there are unique challenges in getting a divorce after decades of marriage, or even after a certain age. While the best way to handle this situation is to look forward, it is also important you don’t make the mistake of failing to prepare for any complications which may come.

The following are common reasons people choose to divorce as they get older, including but not limited to:

  • People have different desires and needs as they grow and change
  • Differences in lifestyle, in which one person is more active and the other more passive
  • Children have grown and left the home, leaving a couple alone for the first time in a long time
  • Growing apart after years spent together

One of the most unique aspects of gray divorce is the effect it will have on your finances. After the age of 50, you have likely worked your whole life to a retirement you are entitled to. However, in the event a marriage fails to last, your retirement could be at risk. You will have to ensure your monetary rights are protected as best as possible, including in the division of your 401K and your IRA assets--as well as any debt present in the marriage. The question of alimony also arises, as people of a certain age have grown accustomed to a standard of comfort they are generally unwilling to give up.

Another important issue to consider is the emotional side of the coin, as you have likely spent years with this person, or otherwise believed getting married later in life would mean you could avoid the difficulties of divorce. When this isn’t the case, it can be difficult to overcome. Some people view divorce at a later age to be invigorating, as it allows them the chance to finally live the life they’ve always wanted. However, for others, this is incredibly painful.

Contact Our Experienced & Skilled Fairfax Divorce Lawyers Today

At Malinowski Hubbard, PLLC, our Fairfax divorce attorneys are committed to helping our clients move on from this challenging chapter of their life with ease. Regardless of how you may feel about your chances of success, we seek to offer you accurate and top-rated legal counsel, care, and representation. Allow us to advocate on your behalf.

If you would like to speak to a representative of our team, please don’t hesitate to contact us by calling (703) 935-4222.

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