As many as 25 percent of divorces take place between couples over 50, according to a study done at Bowling Green University. That means retirement income, home loans and a lifetime of savings are all at stake—and if you’re part of what’s become known as a “gray divorce,” you’ll need to rely on your Raleigh divorce lawyer’s expertise to guide you through.
What’s Different about a Gray Divorce?
In a gray divorce, the parties generally don’t have to worry about child custody and support. However, they often have to focus on alimony and an equitable distribution of property. In some cases, the person who earns less or depends on a spouse’s income will need to make major lifestyle adjustments (including finding employment).
Only your Raleigh divorce lawyer can give you legal advice that fits your own case and pertains directly to North Carolina law. It’s important to discuss your financial situation, your employment prospects and a detailed history of your marriage with your attorney so he or she can provide you with the best help.
Asking Your Raleigh Divorce Lawyer for Advice
Your Raleigh divorce lawyer is there to help you find your way back to solid ground during your gray divorce. If you have questions, don’t hesitate to ask; make sure you talk about:
• Pension plans and retirement accounts
• Spousal support
• Health and life insurance
• Social Security
You may also want to ask your Raleigh divorce lawyer for a referral to a financial planner, tax adviser or other professionals who can help you plan for the future. Since gray divorces often overlap with retirements, you’ll need to get a clear picture on how the process will affect you as you move forward with your life.
The Positives
As your Raleigh divorce lawyer can probably tell you, gray divorces have the potential to go more smoothly than those involving younger couples. Because child custody isn’t usually a point of contention and it’s generally easier to understand the big picture on divorce, couples involved in gray divorces can often work together to reach a fair, equitable settlement.
That’s not to say gray divorces aren’t hard; emotionally, they can take a heavy toll. Ask your Raleigh divorce lawyer to refer you to a local counselor or therapist who specializes in gray divorce to help you through this tumultuous time.
