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What do I Need to Know About Gray Divorces in New Jersey?

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People can go through a divorce at any point in their life. This may be early in their marriage, or after a significant amount of time together. When people get divorced later in life, it may be referred to as a gray divorce. The name came from the idea that anyone married for that long must be an older adult who is “starting to gray.” While this originally referred to individuals who go through a divorce after 40 years or more of marriage, it is more commonly used for divorce among “baby boomers” these days. Continue reading below to learn more and contact an experienced New Jersey divorce attorney for help with your case.

How Can Mediation Help a Gray Divorce?

There are many ways that spouses going through a gray divorce can benefit from mediation. This can include the following:

  • The couple does not want to waste a lot of money on the divorce. Spouses who are divorcing after a long-term marriage are most likely in their 50’s or 60’s, thus either retired or soon planning to. It is because of this that they may not want to spend much money on their divorce in order to protect their retirement fund. Mediation is less costly than a litigated divorce.
  • They do not want to waste a lot of time on the divorce. Divorces can sometimes take years. Older couples tend to not want to spend a great deal of their time hashing out divorce matters in a courtroom. Instead, mediation can speed up this process to find resolutions faster.
  • They do not want to add any more stress to their life. This age in a person’s life can bring certain challenges and worries. This may be a demanding job, college tuition bills, caring for aging parents, continuing to support children, medical issues, etc. A complicated divorce can be the last thing they need to add stress to their life. Mediation can be a much more peaceful process.

Important Gray Divorce Issues to be Aware Of

The longer a marriage lasts, the more complex the process of separating it can be. The following are important gray divorce issues to be aware of during this time:

  • Determining alimony duration and amount
  • Determining marital property vs. separate property
  • Establishing if inheritances can be divided
  • Alimony negotiations when one spouse is collecting social security off the other’s earnings
  • Whether or not a new life insurance policy is needed
  • Dividing pension plans or other retirement accounts
  • Whether or not they are required to pay for their children’s college education through child support

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If you require experienced legal representation for a matter of Family Law, Supplemental Security Income, Medical Malpractice, Social Security Disability, or Legal Malpractice, Siragusa Law Firm is here to help. Contact our firm today to schedule a consultation so we can discuss your case.

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