Gray Divorce Lawyer in Cary

Gray Divorce Attorneys Serving Chatham, Cumberland, Durham, Franklin, Granville, Harnett, Johnston, Lee, Moore, Orange & Wake Counties

Divorce is difficult at any age. A gray divorce, however, can bring its own unique set of considerations. If you’re going through a gray divorce in Cary, make sure you have an experienced Cary gray divorce lawyer on your side.

WHAT IS CONSIDERED A GRAY DIVORCE?

A gray divorce is a divorce between spouses over the age of 50. It is also known as a “silver divorce” or “diamond divorce.” The trend of later-in-life divorce has grown considerably over recent years due to many factors, including the fact that people are healthier, living longer, and have the ability to leave   a marriage where they are unhappy.

WHAT ARE SOME UNIQUE CONSIDERATIONS WITH GRAY DIVORCE?

Unique considerations of gray divorce may include:

Retirement

By age 50, many people have already made considerable plans for retirement—and chances are, their plans included combining the retirement accounts of both spouses. If one spouse worked throughout the marriage and the other did not, the spouse who did not work may have the right to more of the other spouse’s retirement account.

The spouse who earned less income (or no income at all) may be able to file for benefits from the higher-earning spouse’s social security (at no loss to the higher earner) two years after the divorce if they meet the eligibility requirements.

Asset Division

Many gray divorcees have considerably more assets to take into consideration than younger divorcees, who may not have had time to generate the same level of assets. People who have been married for a long time may also have considerably more shared marital assets than those who have been married for a shorter period, making equitable distribution more complex.

Competency

Are both spouses competent to make legal decisions about the divorce? Are they competent to live on their own in the event of a divorce? If one or both spouses suffers from considerable medical needs, it could impact the divorce.

Long-Term Care Needs

Divorce can impact both spouses’ long-term care planning and their ability to choose the nursing home or long-term care facility they would prefer for their needs.

Estate Planning

Often, gray divorcees already have estate plans in place, which they will need to revisit in the event of a divorce.

Insurance

Ensuring that both spouses have insurance coverage can prove more critical during a gray divorce than it might be for younger divorcees.

COMMON CAUSES OF GRAY DIVORCE

Each marriage is unique, and the reasons for dissolving those marriages are equally unique. However, several common reasons often come up when discussing gray divorces.

• Waiting until the children are grown
• Retirement—either deliberately waiting until retirement or discovering in retirement that the couple is no longer compatible
• The failure of a second, third, or fourth marriage—divorce is more common in subsequent marriages than in first marriages
• Financial challenges, including putting off divorce until one or both members of the couple can handle the divorce financially

WHAT ARE THE BENEFITS OF MEDIATION?

Mediation can offer several key advantages as you manage your gray divorce. A mediator helps offer an impartial view of the challenges that often go along with dividing your assets. Sometimes, a mediator can help offer a solution that you and your spouse may not have come up with on your own. Furthermore, mediation can help you avoid the additional expenses that may go along with taking your divorce to Court for a judge to decide on the final division of assets.

FINDING THE BEST GRAY DIVORCE LAWYER FOR YOU

How do you know that you have the best gray divorce lawyer for your needs? Make sure you ask the right questions. You may want to consider factors like:

• Has your lawyer helped with gray divorce in the past? Since gray divorce has a number of unique factors, you want to be sure your lawyer can help guide you through the challenges you may face.
• Does your lawyer offer mediation assistance, which could make it easier for you to arrive at an agreement with your former spouse?
• What does your lawyer charge, and what is included in those fees?

If you’re headed toward gray divorce, we can help. Contact us today to learn more about our legal services.