The term gray divorce, which applies when divorcees are over the age of 50, is becoming more common in New Jersey and other states. People who fall into this category are divorcing at a higher rate than before for several reasons. While any divorce is difficult, a gray divorce can have some additional challenges. It’s helpful to understand the divorce process by knowing what to expect and preparing for the challenges that may lie ahead.
Differences in gray divorce
In many instances, those going through gray divorce have been married for much of their adult lives. They may have adult children, which can create additional concerns during the divorce as they can feel many of the same emotions as minor children do when their parents separate. A gray divorce can also have significant financial implications for both parties. That’s why it’s important to properly value assets, ensure that there are no hidden assets, and carefully consider post-divorce financial plans.
Going through a gray divorce can lead to many emotions. Life can change dramatically, and this may include changing jobs, moving to a new home and learning how to navigate life on one’s own again. For many who go through a divorce later in life, therapy and group meetings with others in a similar situation can be helpful. Finding new hobbies, making new friends and learning new skills can all be great ways to occupy one’s mind during a difficult time.
The legal side
Divorce, while emotional, is ultimately a legal issue. When people divorce later in life, the financial situation can be quite complicated. With asset division, which may include investments, retirement funds, physical property and other assets, it’s important to seek legal advice. New Jersey residents can consult with an experienced family law attorney to prepare themselves for what’s ahead.