Six Tips For A Successful Grey Divorce
The separation of older couples who have spent several years together is called “grey divorce” or “silver splitters.” Factors such as changes in society’s stigma towards divorce, longer life expectancy rates, growing up of children couples often stayed together for despite dissatisfaction have encouraged couples above the age of 50 to separate, contributing to the rise in the rate of grey divorce.
Divorces can be a complicated and extensive procedure. Connecticut Divorce Lawyers provide you with the necessary legal aid and representation you require to settle the case fairly.
Here are a few tips for a successful grey divorce:
- Hire a skilled lawyer.
It is always beneficial to hire a lawyer while navigating through the legal process of a divorce. Without a lawyer to protect your rights and their vast knowledge regarding the law, you might make uninformed decisions resulting in an unfavorable settlement for you. An experienced lawyer has helped several cases like yours before and can guide you to make the right decisions. They should be able to communicate well and understand your requirements, have good analytical and reasoning skills, be organized, and be patient. Choose a lawyer that is compatible with you and has a good history of satisfied clients.
- Finances.
It is vital to track all the existing shared assets, liabilities, and debts you and your partner have, such as property, stocks, investments, and vehicles. Marital assets usually accumulate in longer marriages, and it is more complicated to separate them. Hiring a financial advisor is also recommended, especially if you were the non-breadwinning spouse. However, the law ensures that both spouses have transparency regarding the financial statements. Do not forget to consider taxation. It is vital to formulate a proper retirement and pension funding plan in grey divorces and split income and expenses fairly.
- Take your adult children into consideration.
While child support and custody battles will not be a part of your divorce, you will also have to consider their financial expenses if they are dependent on you in scenarios such as paying university tuition. Their needs should also be appropriately addressed.
- Insurance.
If a particular spouse is dependent on the other for health insurance, they can request the health insurance coverage in their coverage. For other insurance plans, such as life insurance, a person might be unable to continue to pay for the premiums, and the attorney formulates a mutually beneficial solution.
- Alimony.
When one spouse is still earning income, they are liable to pay alimony to the other spouse for covering their expenditure. The amount is decided on the basis such as age, whether the other spouse will be able to find employment again and sustain themselves, and if they have any health complications or disabilities.
- Seek support.
Divorces can be an emotionally exhaustive process. The legal procedure can also cause further strain in the relationship. The frustration, sadness, and anger you experience after losing a partner you were with for years can make you depressed. It is essential to seek support from licensed therapists to process your emotions while letting go of resentment for your partner to maintain a civil relationship for the sake of your children.
