What Is Considered a Gray Divorce in New York State?
Every couple faces a unique set of challenges when they undergo a divorce. Follow along to learn what is considered a gray divorce and how a proficient Long Island divorce attorney of The Pollack Law Firm, P.C., can serve as your mediator throughout the process.
What is a gray divorce in New York state?
A gray divorce is a divorce that occurs between spouses that are over the age of 50. This age demographic has its own term for divorce because, in recent years in New York state, it has become more and more common.
What are the most common issues that arise during a gray divorce?
A gray divorce is different from other types of divorce because couples over 50 likely deal with certain issues that other couples will unlikely have to face, and vice versa (i.e., child custody). That said, some of the most common issues that arise in a gray divorce include the following:
- You and your spouse must divide pension plans or other retirement plans.
- You and your spouse must determine whether a new life insurance policy is needed.
- You and your spouse must establish whether inheritances can be divided.
- You and your spouse must establish child support if your child is receiving a college education.
- You and your spouse must establish alimony (i.e., duration, frequency, and amount) if one is collecting social security off of the other’s earnings.
- You and your spouse must decipher the marital property from the separate property.
What are the advantages of mediation for a gray divorce?
Like any other type of divorce, there are many advantages to choosing mediation for a gray divorce. They include the following:
- You and your spouse do not want to waste money: if you and your spouse are planning to retire, if not already retired, then you may not want to spend much money on litigation. To protect your retirement fund, mediation is the better option.
- You and your spouse do not want to waste time: depending on the New York court’s schedule, litigation can make a divorce take years to settle. If you and your spouse do not want to waste precious time in the courtroom, mediation will allow you to reach a resolution faster.
- You and your spouse do not want to add pressure to your life: litigation can make your divorce complex. If you are your spouse are dealing with a demanding job, college tuition bills, caring for aging parents, medical issues, etc., mediation will allow for a much more peaceful process.
For additional guidance, we recommend that you consult with a talented Nassau County divorce attorney as soon as possible.
Contact our experienced Nassau County firm
The Pollack Law Firm, P.C., is always available to assist and represent parties in divorce, separation, and all other matrimonial and family law matters. Contact us online or call today to schedule your complimentary case analysis at (516) 938-3330.
