As you may know, divorce is, unfortunately, more common than ever in the U.S. For many, divorce is among the most complex legal matters they will ever face, and this is especially true for couples who are over the age of 50. When spouses who are over the age of 50 get divorced, it is often referred to as ‘gray divorce.” Gray divorces are different from younger divorces and, at times, can be more complicated in some key ways. Read on and reach out to our experienced New Jersey family law attorneys to learn more about gray divorce in New Jersey and how our legal team can assist you. Here are some of the questions you may have:
What is the difference between gray divorce and younger divorce?
In many ways, gray divorces and younger divorces are quite similar. For example, they may both involve matters of alimony, property distribution, child custody/support, and more. They also often involve the same level of emotional stress. However, when it comes to alimony and property distribution specifically, matters are often more complex.
For example, in many cases, when spouses have been married for longer, they most likely have more jointly-held and comingled assets than younger couples, such as shared bank accounts. Additionally, couples nearing retirement age find that their pension plans, retirement plans, and more may come to the forefront during the equitable distribution process.
Can a gray divorce impact alimony terms?
In many cases, alimony is the most important issue when it comes to gray divorce. This is because often, the longer the duration of a marriage, the longer one spouse may be owed alimony. For example, if you were married for over 20 years and are financially dependent on your spouse, you may receive open durational alimony. Open durational alimony means there is not an official end date in place, however, it is not permanent. There is an open term until the court terminates it (due to a significant change in circumstances) or you and your former spouse agree to terminate it.
With so much at stake, you need competent legal assistance on your side. Please don’t hesitate to reach out to a New Jersey family law attorney right here at our firm. We are on your side.
Contact our experienced New Jersey firm
We understand how confusing certain legal issues can be, which is why we are dedicated to providing individuals with the compassionate and knowledgeable legal representation they deserve. Aronsohn, Weiner, Salerno & Kaufman has helped clients with various difficult legal challenges for over 40 years. We know we have the experience needed to do the same for you. For experienced legal counsel regarding family law, litigation, business law, real estate, and criminal law, you know where to turn–contact Aronsohn, Weiner, Salerno & Kaufman today to schedule a consultation.