What’s a Gray Divorce?

There are few things worse than having to get a divorce, but unfortunately, it’s something that roughly half of all married couples do. Oftentimes, when couples get divorced, it’s when they are younger than 50. However, in today’s day and age, we find it more and more common for spouses over the age of 50 to get divorced as well. This may be for a variety of reasons, but regardless, you should understand that these divorces, known informally as “gray divorces” often come with their own sets of challenges, which is why you should never face one alone. Please continue reading and reach out to a seasoned Monmouth County divorce attorney from the Law Offices of George J. Mardinly to learn more about gray divorce in New Jersey and how our legal team can help you through the legal process ahead. Here are some of the questions you may have:

What makes a gray divorce different from younger divorces?

Rather obviously, the first and most obvious difference is the age at which the spouses are getting divorced. However, because of their age, they will likely have a lot to consider that many younger couples simply wouldn’t. Some of those things are as follows:

  • Retirement assets and alimony: If you are already retired or are about to retire, your retirement plan may be subject to equitable distribution in your divorce. Additionally, when you get a divorce later on in life, especially at an age where it would be unlikely or impossible for you to return to the workforce, it becomes all the more important for you to secure alimony payments.
  • Intermingled assets: The longer a couple is married, the more likely that they will have intermingled assets, such as funds in jointly-held bank accounts, which can complicate the equitable distribution process.

What can I do to protect my assets from a divorce?

Fortunately, there are things you can do to protect your assets from a divorce, such as drafting a prenuptial or postnuptial agreement. Couples who are not yet married may draft prenuptial agreements, while spouses who are already married may draft postnuptial agreements. These agreements outline exactly what will happen with your assets, should you get divorced. If you have any further questions or you need an attorney who can help you with your divorce or the drafting of a pre/postnuptial agreement, give us a call today.

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If you require strong and dedicated representation for any family law, criminal defense, business law, real estate law, or estate planning matter,Β contact The Law Offices of George J. MardinlyΒ to schedule a consultation.