Gray Divorce Lawyer in The Woodlands

What Is a Gray Divorce?

When the expression first appeared, it denoted a man and a woman who decided to divorce after marrying for at least 40 years. Nowadays, gray divorce refers to the high divorce rates among baby boomers (those born 1946-1964) regardless of how long they’ve been married or their nationalities.

Do I Need a Gray Divorce Lawyer?

Most people have been with their partners their entire adult lives, making gray divorces particularly difficult. Both spouses may struggle financially, emotionally, and socially as a result. They will likely remain in contact after their divorce because they shared friends and raised a family together. They might attend weddings, grandchild births, get-togethers with friends, or have visits from extended family members during holidays.

You might learn from your gray divorce lawyer in The Woodlands that divorces between parties over 50 are more likely to be amicable than divorces between parties under 50. In most cases, divorcing older couples can negotiate a reasonable settlement. This is because child custody disputes are uncommon, and divorce cases make it simpler to look at the big picture.

Gray divorces are complicated to navigate on your own. Most individuals would prefer not to spend money on a gray divorce lawyer. Still, a reasonable family law attorney employs tactics that enhance the result, reduce the danger, and increase the likelihood that everyone will get along in the long run. After all, the pair will be together for a long time and share friends and relatives.

Some of the issues our gray divorce lawyers in The Woodlands will focus on are:

• Altering your retirement plan
• Dividing the assets and liabilities as per the law and your prenuptial agreements
• Advising you on suitable negotiation strategies as they will have a lasting impact on relationships with your partner, children, other family members, and friends

How Is a Gray Divorce Different From Other Divorces?

The parties of a gray divorce are nearing or have achieved retirement age. These days, divorces are increasingly common, especially among baby boomers. A gray divorce differs from a young couple divorce in the following ways:

Splitting of More Property

Older couples might not need a custody arrangement because they don’t have young children anymore, but they might have a lot of assets to divide. They may live together in a house where the mortgage is fully paid off, or they may have saved six or seven figures for retirement.

High net-worth divorces are often contentious. If money is spent or hidden, it can be a severe issue in a gray divorce. Distinguishing between separate and marital property is usually more complicated in a gray divorce.

Substantial Differences in Economic Circumstances

A senior couple may have highly diverse financial situations for each member. One partner may possess significantly more property than the other because they have acquired more knowledge. After a gray divorce, a dependent spouse who hasn’t worked in years might not be able to get a new career or pick up new skills.

In cases where one older spouse possesses a more significant number of assets than the other, there might be potential alimony or spousal support situations. The one who receives the retirement benefits may have to donate some of them to the other spouse if the pair cannot agree on how to solve their family issues or divide such benefits.

Additionally, the court considers how long a couple has been married when determining alimony.

Child Support

Children no longer reside with their parents in a gray divorce. Typically, they are all grown-ups by now and have departed to find employment or begin their own families. Thus child support isn’t typically an issue.

Younger children often struggle to express which side of a divorce they support. However, older children will often be able to explain their feelings about their parent’s separation. Gray divorce may impact the family more than divorce at a younger age due to how adult children behave.

Remarriage Considerations

Typically, younger couples are more likely to remarry after a divorce as they are still young and have much more time to socialize. Consequently, this is not the case with a gray divorce because as we get older our priorities and needs can drastically change.