As couples age, they may decide that going through life together no longer works. Divorce at any age has its challenges, but those spouses over the age of 50 may land in a unique and challenging situation.
Gray divorce is the term given to an older couple who decide to split. The elements that impact how a divorce proceeds for a couple fitting this description may complicate a Florida divorce.
What is difficult about a gray divorce?
The most significant complication for divorcing couples of this age is the sizeable marital property at stake. Whether these couples have remained married from a young age does not usually matter. Each has likely worked decades to amass property, cash reserves and retirement assets. The financial aspect of a gray divorce is often the most difficult to deal with.
Is there any issue that may no longer apply?
A couple over 50 years old may have raised a family and may have grandchildren. This means that worrying about child custody or support is no longer a factor and may ease some of the normally contentious topics of a divorce.
What is a unique topic?
Aging spouses may share health insurance policies, but this is no longer the case after divorce. Due to age or condition, a spouse may not have the ability or financial resources to get a policy once divorced. One topic in a gray divorce may center around health insurance and healthcare for a spouse facing a crisis.
Gray divorce is not easier and may prove stressful even without child-related issues. Understanding what is coming may help a spouse considering this action after age 50 come to terms with the path ahead.