divorce occurs when a couple over 50 years old end their marriage. According to
the Pew Research Center, gray divorces have almost doubled in the last
While divorce can be challenging for all couples, ending a 20- or 30-year
marriage can present more complications. Additionally, since elder individuals
don’t have the same earning potential as their younger counterparts,
there are more pressing financial concerns.
The following are some common concerns regarding gray divorce in Florida:
Property division – Since Florida is an equitable distribution state, all marital
(or community) assets are fairly divided between each party. Since elder
couples are married for decades, proving separate and marital property
may be complex. For instance, if the value of a certain asset or property
attained before the marriage has significantly increased over the course
of the relationship, couples may argue if it is considered separate or
Retirement accounts – When older couples divorce, retirement accounts and pensions are
considered one of the costliest assets. In order to avoid tax penalties
and potential clerical mistakes, having an experienced attorney file a
qualified domestic relations order (QDRO) can protect the life savings
accumulated by each party.
Alimony – Alimony agreements are often temporary in nature, enabling the
lesser-earning spouse to make a successful transition into their new life.
On the other hand, the lesser-earning spouse can obtain alimony payments
for life in marriages lasting two or more decades.
Inheritances – Although inheritances are viewed as separate property in the eyes
of the courts, marital property bought with an inheritance can be considered
While gray divorces present several financial and legal obstacles, they
offer couples an opportunity to start a new phase in life. It is imperative
to hire an experienced lawyer to protect an elder person’s rights
and best interests throughout the divorce process.
For more information about gray divorces in Daytona Beach,
contact the Law Offices of Robert Stepniak today at (386) 868-4771 today.