What many people do not consider is that divorce later in life can vary greatly from a typical divorce. Follow along to discover more about gray divorce and how one of the proficient divorce attorneys in Nassau County of Barrows Levy PLLC can help you navigate through this difficult time.
What is considered a gray divorce in New York state?
Put simply, gray divorce is associated with couples who are generally over the age of 50 and who are divorcing later in life after sharing a long marriage together. The divorce rate for couples in this age bracket has notably increased over recent years. Gray divorce is a relevant term because these older couples must deal with certain divorce issues that younger couples do not have.
What issues must be dealt with in a gray divorce?
The following is a comprehensive list of issues that couples undergoing a gray divorce likely have to deal with:
- You and your spouse will have to determine whether a new life insurance policy is needed.
- You and your spouse will have to establish whether inheritances need to be divided.
- You and your spouse will need to settle alimony if one is collecting social security from the other’s earnings.
- You and your spouse will need to distinguish the marital property from the separate property.
- You and your spouse will need to decide whether one needs to pay for your child’s college education via child support.
Why may mediation be beneficial for a gray divorce?
Divorce mediation is a favorable route for many couples, but especially for those who are undergoing a gray divorce.
For one, divorce via litigation can get quite expensive. And while many couples in a gray divorce may also simultaneously be in retirement, litigation is not the most economical route. Divorce mediation, on the other hand, may cost close to nothing.
Secondly, a litigated divorce can take a long time, sometimes even years. Since older couples likely do not want to waste a lot of time with this process, opting for a mediated divorce may be the more efficient choice.
And lastly, a litigated divorce can be stressful. Especially if the older couple is dealing with medical issues, their jobs, supporting their children, etc., they may want to undergo a more peaceful process with a mediated divorce.
With all that being said, if you are facing a gray divorce, you must employ a talented Nassau County divorce lawyer. We will not only guide you through each step of the process, but we will serve as your biggest advocate in getting the settlement agreement that you deserve.
CONTACT OUR EXPERIENCED NEW YORK FIRM
If you need a Nassau County lawyer who has significant experience handling family and estate planning matters, contact Barrows Levy PLLC to schedule a consultation with one of our experienced attorneys today.
