There are many divorces that take place after couples are married for a long time. Sometimes, after decades. When this happens, it is often known as a “gray divorce.” This term was originally coined due to the idea that anyone who was married for 40+ years must be starting to gray. Overtime, it became more commonly used to refer to divorces between spouses who are in their 50s and 60s, also known as the baby boomer generation. Continue reading below to learn more and contact an experienced New York divorce attorney for help with your case.
How Can Mediation Help a Gray Divorce?
When going through a divorce, it is important to keep in mind the method of mediation. Spouses of an older age going through it can benefit from mediation in order to settle their marital issues. This may be in the event of the following:
- They do not want to waste money. Divorces can often be expensive and spouses at an older age may either be retired or planning to retire soon. Instead of spending money on a divorce through litigation, they can protect their retirement funds through mediation.
- They do not want to waste time. Spouses at an older age may not want to spend a significant amount of time in court, and divorces can sometimes take years. Mediation can be a quicker process.
- They do not want any more stress in their life. If spouses are facing other difficulties in life and they most likely do not want to go through complicated divorce proceedings. Mediation is often a healthier and more peaceful process.
What are Important Gray Divorce Issues to be Aware Of?
There are a variety of issues that can come to light during a gray divorce, such as the following:
- Determining alimony duration and amount
- Determining marital property vs. separate property
- Establishing if inheritances can be divided
- Alimony negotiations when one spouse is collecting social security off the other’s earnings
- Whether or not a new life insurance policy is needed
- Dividing pension plans or other retirement accounts
- Whether or not they are required to pay for their children’s college education through child support
Contact our Firm
Peter V. Mandi, Esq. is an experienced divorce and family law attorney located in Bohemia, New York. Our firm understands the impact a divorce can have on your life. If you require strong and dedicated legal representation in Long Island, New York, please do not hesitate to contact Peter V. Mandi & Associates, Inc. today.