Real Solutions And Honest Advice For Over 30 Years

  1. Home
  2.  → 
  3. Family Law
  4.  → 
  5. Divorce
  6.  → Grey Divorce

Family Law Attorneys Providing Skilled Guidance In Grey Divorce

Although wedding vows still call for marriage to last “Until death do us part,” that simply isn’t the reality for a significant number of American couples. Due to increasing life expectancy and a variety of other factors, divorce rates have actually been rising among couples aged 50 and older. The phenomenon has become common enough to earn its own terminology: “grey divorce.”

If you find yourself preparing to divorce later in life, it is important to work with a knowledgeable and experienced family law attorney like ours at Minion & Sherman. Our New Jersey divorce lawyers bring more than 60 years of combined legal experience to each case, as well as a strong commitment to providing personalized service and attention.

The Most Pressing Concerns Facing Older Divorcing Couples

Divorce concerns change depending on the stage of life you are in. As someone considering a gray divorce, you likely don’t have to worry about concerns related to child custody or child support. However, financial issues become especially relevant.

Here are the topics most likely to be the focus of your grey divorce:

Fair property division, including division of retirement assets: New Jersey is an “equitable distribution” state, meaning marital assets must be divided equitably between spouses (which doesn’t always mean equally). Some of the biggest assets to be divided are retirement accounts, including pensions, IRAs and 401(k)s. Both spouses may be entitled to a portion of a particular account, even if only one spouse is named on the account. Remember: you will have much less time to make up for lost retirement savings and earnings, which means it is critical to ensure you receive your fair share.

Spousal support (alimony): Late-life divorce leaves very little opportunity for someone to change careers or re-enter the workforce. Health issues may also make it difficult or impossible for one spouse to continue working. If you made significant non-financial contributions to family life (such as being a stay-at-home parent) and/or have limited earning capacity due to health issues, spousal support will likely be critical to your long-term financial health.

Retirement planning: Divorce may force you to rethink your original retirement plans, including when to start drawing Social Security benefits. Working with an attorney and consulting knowledgeable financial professionals can help you reassess your options and feel more secure in your retirement plans.

Health insurance coverage: It’s common for couples to be on the same health insurance plan through one spouse’s employer. If you’ll be losing access to coverage but aren’t yet eligible for Medicare, our attorneys can help you explore options for maintaining coverage or adjusting property division to factor in these additional costs.

No two cases are exactly alike, which is why we provide customized, tailored family law representation to each client. No matter what your unique needs may be, our attorneys will hear your concerns, answer your questions and work toward the most favorable divorce settlement available in your case.

Get Started With A Free Initial Consultation

With offices in West Caldwell and Newark, Minion & Sherman serves clients throughout Essex County and surrounding areas of New Jersey. To take advantage of a free initial consultation with our experienced family law attorneys, call us at 973-559-5791 or submit an online contact form.