With every couple undergoing a divorce, there are a unique set of issues that arise. For one, a gray divorce is a divorce that occurs between spouses that are over the age of 50. Over the past few years in New York, the rate of divorce within this age group has significantly increased. So if you and your spouse find yourselves in this situation, continue reading to learn how one of the experienced Manhattan divorce attorneys of Zimmet Law Group, P.C., can help you overcome these issues.
What are the most common issues that arise during a gray divorce?
Couples over 50 have their own term for divorce because they tend to deal with certain issues that younger couples do not, and vice versa. For example, couples undergoing a gray divorce likely do not have to discuss child custody. Moreover, common issues that must be resolved in a gray divorce read as follows:
- How to divide pension plans or other retirement plans.
- How to divide marital property from separate property.
- How to divide inheritance plans, if necessary.
- How to establish a new life insurance policy, if necessary.
- How to establish child support, if your child is receiving a college education or otherwise still requires financial support.
- How to establish alimony duration, frequency, and amount, if one is collecting social security off of the other’s earnings.
What are the advantages of mediation for a gray divorce?
Mediation is an advantageous divorce method because it is a relatively inexpensive, quick, and peaceful process compared to litigation. That said, if any of the following statements apply to you, then you should consider opting for mediation for your gray divorce.
- You and your spouse are planning to retire, if not already retired, so you do not want to spend your retirement funds on litigation.
- You and your spouse do not want to waste precious time, so you do not want to spend years in the New York courtroom to finalize your divorce.
- You and your spouse are dealing with demanding jobs, college tuition bills, caring for aging parents, supporting your adult children, medical issues, etc., so you do not want to add the stressful process of litigation into the mix.
If you would like the support of an attorney throughout the mediation process, do not hesitate in reaching out to one of the skilled New York City divorce attorneys as soon as you possibly can.
Contact Our New York City Firm
If you require the services of an effective New York City attorney of estate planning and administration, divorce and family law, real estate, commercial litigation, business law, bankruptcy, or landlord-tenant law, contact Zimmet Law Group, P.C. today to schedule a consultation.