The “Gray Divorce” Phenomenon
News reports continue to discuss an upward shift in the amount of baby-boomers and long-time marriages that are ending in divorce. For those of us who practice in family law, we have long been aware of this; but it seems to have recently struck a chord in the news cycles.
So-called “gray divorces” bring unique challenges. Often in these cases we see that the children are grown, so rarely are there custody, parenting time or child support disputes. However, the financial aspect of a later-years divorce becomes that much more important as often parties are already drawing on retirement, or about to retire, and what the parties thought was their nest-egg to use in their golden years, is now cut in half.
When looking at these types of divorces, we are specifically keyed into determining the support analysis for both parties to maximize the funds available to them and who, if anyone, can rebuild before retirement. Whether an asset is in fact an asset or has become an income stream in retirement years is of the utmost importance.
At Howard Family Law, LLC, we are skilled professionals who have often dealt with these issues and are experienced to guide you through this difficult process.
If you have questions related to a possible dissolution of marriage, child custody questions, or parenting time concerns, please do not hesitate to contact our office (952) 224-9410