Bergen County Gray Divorce Lawyer
Spouses of all ages get divorced each year in New Jersey. When spouses are 50 years old or older, we refer to the divorce as a “gray divorce.” All couples seeking a divorce must deal with various issues. However, a gray divorce involves issues that younger couples may not encounter.
At Arons & Solomon Divorce Lawyers, our divorce attorneys have over 150 years of combined experience in family law. We have extensive experience handling divorces involving complex issues, including the issues involved in a gray divorce.
If you are over the age of 50 and are facing divorce, we can help. Call Arons & Solomon Divorce Lawyers to schedule a free consultation with one of our Bergen County gray divorce lawyers at 201-482-1659.
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How Arons & Solomon Divorce Lawyers Can Help You With a Gray Divorce in New Jersey
Parties who have been married for decades have a tightly entwined life. They have accumulated considerable marital assets. Therefore, it can be challenging to separate their lives and assets.
Our divorce attorneys understand the unique issues involved in a gray divorce. We understand that dealing with the matters involved in a divorce can be overwhelming. It does not need to be as stressful as you imagine when you have our legal team on your side.
When you hire our top-rated Bergen County family law attorneys, we will:
- Explain your rights and how the law applies in your divorce case
- Discuss issues that impact your divorce and potential resolutions
- Identify your goals for a divorce settlement
- Develop a strategy for obtaining the outcome you desire
- Engage in negotiations with your spouse to obtain a divorce settlement
- Litigate your divorce if that is the best way to protect your interests
We have top ratings from numerous organizations, including Avvo and Martindale Hubbell. Our lawyers have received awards from the Top 10 Best of the Best Attorneys, the American Institute of Family Law Attorneys, and many other organizations.
Since 1994, we have helped our clients obtain the best possible results for their divorces. Call Arons & Solomon Divorce Lawyers to schedule a free case evaluation with an experienced Bergen County gray divorce lawyer.
What Makes a Gray Divorce Different From Other Divorces in Bergen County, NJ?
Divorces of couples over 50 years old can present several unique challenges. For most mature couples, child custody and child support are not issues. However, they have other matters to address that are not necessarily concerns in the New Jersey divorce process for younger couples.
Spousal Support / Alimony
New Jersey alimony laws were amended in 2014. Several of these amendments impact gray divorces. For example, a couple in a gray divorce may be close to retirement age. Spousal support can be modified or terminated by the court when the payer reaches full retirement age.
Many gray divorces involve marriages that lasted over 20 years. If so, the court may award open durational alimony. However, if the marriage lasted less than 20 years, the duration of alimony cannot extend the length of the marriage unless the judge determines exceptional circumstances apply.
Some exceptional circumstances could apply to older individuals, such as a spouse with a chronic illness or unusual health condition. In a gray divorce, a spouse may have given up their career to benefit the other spouse’s career, which is another exceptional circumstance. The parties’ ages when they were married and divorced are also potential circumstances for extending alimony.
Property Division and Retirement Accounts
Several issues related to property division can be problematic in a senior divorce. Gray divorces often involve substantial marital assets that must be fairly divided between the spouses. Marriages that last for decades could make it more challenging to identify separate property without a pre-nuptial or post-nuptial agreement.
Couples who have been married for many years accumulate numerous joint assets with sentimental value. Dividing these assets can be an emotional experience, especially when you consider the assets may be family heirlooms and cherished memories of their children.
Additionally, senior couples often have numerous shared financial accounts, investments, and retirement accounts. Dividing retirement accounts following equitable division laws can be difficult. Social Security income and other factors must be considered to ensure each spouse receives a fair share of retirement funds to support themselves.
Estates and Life Insurance
Long-term couples often have estate plans involving complicated tax and long-term care planning. A couple may have used estate planning tools to minimize estate taxes and protect assets. When negotiating a gray divorce settlement, it is crucial to consider how changes in the parties’ estate plans impact other aspects of their financial stability.
Health Insurance and Medical Care
Another common issue in gray divorces is the need for health insurance and future medical needs. One spouse may provide health insurance for both parties. When the parties divorce, a spouse could lose their health insurance coverage.
Health insurance premiums for seniors are generally more costly. Some seniors have difficulty finding an insurance company that will provide health insurance. This issue could be a significant problem if a spouse does not work and has a decade or more before they qualify for Medicare.
Careful consideration should be given to the cost of and need for future medical care. This issue could impact the terms of alimony and/or property division to ensure a spouse has the resources necessary to pay for healthcare.
Learn More About Gray Divorces in New Jersey During a Free Consultation
You are beginning a new phase of your life. It is crucial that you have the resources you need. Our Bergen County gray divorce lawyers can help you obtain a divorce settlement that is in your best interest. Call us today for a free consultation to discuss your priorities for a divorce settlement.
