Divorce for couples above the age of 50 is referred to as “gray divorce” because of the unique challenges and experiences of getting divorced later in life. After decades of building a life together, it can be difficult to untangle the consequences of a divorce, both financial and emotional.
Our team at C.E. Borman & Associates includes staff members of all ages. Not only do we have decades of experience in divorce law, we also understand the needs of older couples going through divorce.
Here are some of the issues couples undergoing gray divorce face that we can help with:
We’ll learn more about your situation and discuss your options for moving forward.
Together, we’ll get to work resolving your issues – representing you through mediation and, if necessary, in court.
Gray divorce refers to divorce among couples aged 50 and above. Divorce later in life sometimes presents unique challenges due to decades of accumulated assets and intertwined lives.
Property division in gray divorce can be complex due to the large volume of community property accumulated over the years, difficulties in remembering all assets, and the intricate nature of assets such as retirement accounts, pensions, and insurance.
After a gray divorce, individuals may encounter challenges in financial recovery, including rejoining the workforce or securing financial stability, as well as emotional recovery, particularly for empty nesters facing loneliness.
While it’s technically not required to retain the services of an attorney, getting divorced later in life can be an especially complicated process. An experienced attorney familiar with gray divorce can streamline the property division process, ensuring fair distribution of assets and saving time and money for the divorcing couple.
Yes, in Texas, even if you’ve been separated for years, community property acquired during the marriage is subject to division during divorce proceedings. You may be able to demonstrate to the court that certain assets are not community property. An experienced divorce attorney can help.
Retirement accounts and pensions earned during the marriage are typically considered community property and may be divided between spouses. This is often done through a Qualified Domestic Relations Order (QDRO) to ensure proper and penalty-free distribution.
Spousal support, also known as alimony, may be awarded in gray divorce cases depending on factors such as the length of the marriage, each spouse’s financial situation, and their ability to support themselves. Longer marriages are more likely to result in support awards.
Protecting your financial future may involve carefully evaluating assets, planning for retirement, and ensuring a fair division of property. Working with an experienced attorney can help you understand your rights and develop a strategy for long-term financial stability.
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