Securing A Divorce Lawyer For Experienced Gray Divorce Advice
Extended Mortality Rates and Financial Independence Has Led to Dramatic Rise in ‘Gray Divorce’ Over the Last Decade
The number of “gray divorces” has increased dramatically over the last 10 years. These are divorces between couples over age 50 and often in a long-term marriage. Here is a link to read the first blog post I wrote about it in 2015. This increase certainly may have been influenced by the extended mortality rates, societal shifts with less stigma regarding divorcing, as well as women becoming more independent financially.
When I talk with folks who fall into this category, I hear similar explanations why they want to end their long-term marriage. Often, I hear that they stayed together primarily for the sake of their minor children. Now that they are “empty nesters” they feel “free” to move on with their life and focus on their own wants. The other reason I hear often is that the 2 have simply grown apart and really aren’t in love any more or that they were just going through the business/motions of a marriage because “that is what you do.”
In further discussion, it seems that the party iniating the gray Divorce filing explained feeling a lack of emotional support from their spouse. Their spouse had provided informational support but not the nurturing emotional support that was needed. I wrote about this distinction actually in a blog from 2018. Click here to read it.
Can I Support Myself In Retirement?
The primary focus in divorce proceedings of this age group most often is property division and alimony concerns. More specifically, how are they going to survive in retirement and support themselves? They had usually been working to build their savings and retirement and 401(k) accounts to reach a joint goal of retirement. Now, often as a shock to one party, they learn that those assets will be divided, often in half. These parties now have a much shorter time to readjust their planning. They may be strapped with mortgage(s), loans, and in jobs selected with their spouse to collaboratively fund their retirement together.
I would be remiss not to state here, that regardless of which party earned the pension/retirement, the marital portion will be almost always be split evenly. So, huge pressures can result geared at trying to answer the question, “How am I going to survive financially post-divorce?” Many times, a party decides to delay their retirement date and work longer. Obviously, it costs 2 people a lot less to live together than separately.
Experienced Divorce Lawyers Can Help You Move Forward With New Plans
Securing an experienced divorce lawyer is very important. I often bring in professionals such as accountants, appraisers and financial planners to help my client move forward establishing a whole new financial plan and budget. I wrote about that in the blog article from 2020, ‘Tips for Divorce Lawyers Dealing with Gray Divorce Matters.‘ Click here to read it.
Finally, also one from 2019 I wrote, ‘Gray Divorce Rates Continue to Rise!‘ Click here.
If you find yourself in this situation, our experienced Dayton divorce lawyers at Holzfaster, Cecil, McKnight & Mues can assist. Call us at (937) 293-2141 to schedule an in-person conference or one over the phone or via Zoom.
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Attorney Robert “Chip” Mues has been focusing his legal practice throughout Southwest Ohio primarily in divorce and family law matters since 1978. Chip is passionate about family law and has proudly published the Ohio Family Law Blog since 2007. In addition, he is the managing partner of Holzfaster, Cecil, McKnight & Mues. To learn more about him or the law firm, visit the firm’s website at www.hcmmlaw.com. Appointments are available in person, over the phone or by Zoom. Call us at 937 293-2141.
