If you and your spouse of many years are facing a divorce later in life, you may be entering what is known as a “gray divorce“. To learn more about what to expect in a gray divorce, continue reading. For assistance with your divorce matters, look no further than our experienced divorce firm at Butler Giraudo & Meister, P.C. Give our firm a call to schedule your initial consultation with our legal team.
What is gray divorce?
Gray divorce refers to spouses who are seeking divorce later in life who have been married for a long period of time.
What are the most common gray divorce issues?
Certain issues may arise when spouses seek divorce at a certain age. The following are the most common obstacles spouses in a gray divorce may face:
- Dividing pension plans or other retirement accounts
- Alimony negotiations when one spouse is collecting social security from the other’s earnings
- Whether or not a new life insurance policy is needed
- Determining marital property
- Establishing if inheritances can be divided
- Determining separate property
How can mediation help spouses who are divorcing later in life?
When spouses are facing a gray divorce, they may look into mediation. If you are your spouse can relate to the following statements, it may be a good idea to seek mediation in your upcoming divorce:
- You and your spouse do not want to spend a lot of money: Divorces can be expensive. Spouses who are going through a divorce at a later age may either be retired or planning to retire. They may want to protect their funds for retirement by seeking mediation instead of spending money on a litigated divorce.
- You and your spouse do not want to waste time: Divorces can take a large chunk of time to come to a resolution. Couples at these ages may not want to spend their time in court. Mediation can offer a quicker resolution.
- You and your spouse do not want a stressful process: Spouses who are facing divorce at an older age may be facing other difficulties such as supporting aging loved ones or supporting adult children. Mediation can offer a more peaceful process.
Contact Our Experienced Illinois Firm
At Butler, Giraudo & Meister, P.C., a Peoria and Peoria County divorce lawyer from our team is here to help you navigate the challenges of any divorce or family law matter you may be facing. We are dedicated to the practice of Family Law in Peoria, Tazewell and Woodford County and throughout Central Illinois. We provide effective and compassionate legal counsel in pursuit of our clients’ goals when dealing with any matrimonial issue, including, but not limited to divorce, alimony, division of marital assets, child custody, and child support. Contact us today.
