The term “gray divorce” started gaining prominence in the United States around 2004, although the concept was already becoming more common. It refers to the dissolution of marriage in which the parties are older than 50. Since Ocala, Florida, has many residents over the age of 50, they should educate themselves on the implications and reasons for gray divorce.
Reasons for gray divorce
Many people falsely assume that individuals who have been together for decades have it all figured out and, therefore, don’t have to worry about divorce. However, several factors can cause couples who are of advanced age to decide to dissolve their marriages.
One of the leading factors of gray divorce is financial management. If one member of the couple makes all the money, he or she may feel like the sole decision-maker when it comes to finances. In other cases, dealing with debt places a lot of stress on a marriage, which can also lead to divorce.
In other cases, some older couples simply drift apart. Often, older couples end their marriages once their children have grown up and moved out. These couples often realize the empty nest isn’t as happy as they had once imagined it would be.
Implications of gray divorce
Trying to divide assets and property can be more difficult for older couples. As opposed to younger couples, who may have little in terms of financial assets, older couples often have retirement accounts, homes that they have paid off, impressive stock portfolios and more. Trying to navigate dividing these assets can be incredibly difficult.
If you are over 50 and considering divorce, you should employ the services of an attorney who is familiar with gray divorce and your state’s family law system. A lawyer can help you create a plan on how to divide the assets you have spent a lifetime building while negotiating an amicable agreement with your former spouse.