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Knowing what to expect during a gray divorce

Divorce can be challenging at any stage in life but may be especially challenging during what are referred to as "gray years" for those divorcing over the age of fifty. Knowing what to expect from a gray divorce can be useful to help prepare divorcing couples for the process. According to one study, the divorce rate for couples over fifty doubled from 1990 to 2010 which means more couples may be struggling to cope with the impact of a gray divorce.

During a senior divorce, couples should be aware that it is not uncommon for alimony, sometimes referred to as spousal support, to be granted in circumstances of long-term marriages and that it may be granted for life. While alimony can generally be awarded to help a lower-wage earning or non-wage earning spouse get back on their feet, in circumstances of a long-term marriage it may be different. In addition, couples divorcing later in life should be prepared that their retirement may be cut in half during the property division process.

Also important to keep in mind is that when one spouse keeps the house, they will likely have to give up something to compensate the other for the loss of the marital home which can carry great value. It is also important to keep in mind that the family home may be a costly asset to keep in terms of upkeep, taxes and other considerations so couples should take these concerns into account when evaluating their property division priorities. Even if the couple does not have minor children, so they do not have to worry about child support, a gray divorce can have implications for grown children as well related to financial considerations such as caring for a parent later in life or inheritances.

When going through the journey that is divorce, including a so-called gray divorce, it is important to focus on remaining emotionally and financially healthy which is why understanding how the divorce process works can be beneficial to divorcing couples. The family law process provides resources to help guide divorcing couples through the divorce process at any stage or age in life.

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The Law Office of Robert M. Asbury
5731 Lyons View Pike
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Knoxville, TN 37919

Phone: 865-909-7290
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