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Dealing with the gray areas of gray divorce

If you are over 50 and divorcing, you are part of the growing "gray divorce" demographic. This group of people consists of men and women who are ending marriages later in life, often after children have grown up and left the house. 

Even though so-called gray divorces are becoming more common, they still have the potential to be quite complicated. In fact, there are numerous issues that have no easy answer.

Will there be spousal support?

Requests for spousal support are not uncommon in gray divorces. Often, one spouse left the workforce many years ago to manage the home and raise the kids. This person may not be able to financial support himself or herself after a divorce, so spousal support may be an option. However, while length of marriage and earning capacity are major factors in determining spousal support, California courts must consider other factors as well. Each case warrants individual consideration.

Should I (or my ex) keep the house?

Retaining significant assets like a marital home can be far more complicated than people realize. There is typically much more to consider than whether a person wants to keep it or not. Is it financially feasible to keep a home? Are parties inflating property value in light of sentimentality? Is it wise (and possible) to start over in a new home? There may be no easy answers to questions like these, so it is important to think carefully before making a decision.

What will retirement look like?

Divorce can take a considerable toll on plans for retirement. Parties can develop their own plans for retirement, but they must do so with less money. In most divorces, retirement accounts will be subject to division, and parties who are closing in on retirement have less time to make additional contributions to a retirement accounts. As such, it is crucial to avoid costly missteps when dividing retirement funds and accounts.

Divorcing at an older age can be frightening for many reasons, including the many gray areas that exist. However, people going through this difficult situation can work with an attorney who can provide much-needed support and guidance in pursuit of a fair settlement.

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Evans Family Law
5150 E Pacific Coast Hwy
STE 200
Long Beach, CA 90804-3399

Phone: 562-666-2692
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