If you are going through a gray divorce, you will need a dedicated New Jersey divorce attorney on your side. Contact us today to discuss the specifics of your case and your options.
What is a gray divorce in New Jersey?
A gray divorce is a term used for couples over the age of 50 who are going through a divorce. Gray divorces are different from other kinds of divorce because couples over 50 may have to deal with certain issues that other couples will unlikely have to face. For example, some couples may be required to pay open durational alimony. Moreover, most of these couples will not have to worry about child custody or child support.
What are common issues that are addressed in gray divorce?
There are several issues to be addressed with these types of divorces. As previously stated, gray divorces typically deal with issues that other kinds of divorces do not. Some of the most common issues that come up in a gray divorce in New Jersey include the following:
- Establishing whether inheritances can be divided
- Alimony negotiations when one spouse is collecting social security off of the other’s earnings
- Dividing pension plans or other retirement accounts
- Whether or not they are required to pay for their children’s college education through child support
- Determining alimony duration, frequency, and amount
- Determining marital property vs. separate property
- Whether or not a new life insurance policy is needed
What is the benefit of mediation during a gray divorce?
There are many benefits to choosing mediation when going through a gray divorce. These advantages include the following:
- The couple does not want to waste a lot of money on the divorce. Spouses who are divorcing after a long-term marriage are most likely in their 50’s or 60’s, suggesting that they plan on retiring soon. As a result, they may not want to spend much money on their divorce in order to protect their retirement fund. Mediation is costs less than a litigated divorce.
- They do not want to waste a lot of time on the divorce. Divorces can take years to settle. Older couples typically do not want to spend their time dealing with a heated courtroom divorce. By choosing mediation, resolutions can be reached must faster and more efficiently.
- They do not want to add any more pressure to their life. Those of an older age may have certain difficulties and stressors. This can refer to a demanding job, college tuition bills, caring for aging parents, continuing to support children, medical issues, etc. A complex divorce is usually the last thing they need to add stress to their life. Mediation is known to be a much more calm process.
Contact our Firm
We understand how emotional and difficult matters of family law can be. If you need the assistance of a knowledgeable attorney to help protect your right to your family, please do not hesitate to contact our experienced firm. We are eager and dedicated to helping you through this difficult time. Our personal injury specialists at Greenberg & Walden, LLC are standing by for a free initial consultation. Call us at 201-528-6928
