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How does Florida define a gray divorce?
A gray divorce is a divorce that happens with couples over the age of 50. Because this kind of divorce has grown in recent years, these divorces are assigned a distinct name. Gray divorces are different from other kinds of divorce because couples over 50 may have to deal with specific issues that other couples will unlikely have to face. For example, some couples may be requested to pay open durational alimony. Also, most of these couples will not have to stress about child custody or child support.
What issues are generally handled in a gray divorce?
Because gray divorces happen during the later stages in a couple’s life, most issues are addressed in these kinds of divorces. As once stated, gray divorces usually deal with problems that other kinds of divorces do not. Some of the most common issues that come up in a gray divorce in Florida include, and are not limited to the following:
- Alimony negotiations are when one spouse is collecting social security off of the other’s earnings
- Establishing whether inheritances can be divided
- Determining alimony duration, frequency, and amount
- Determining marital property vs. separate property
- Whether or not a new life insurance policy is needed
- Dividing pension plans or other retirement accounts
- Whether or not they are required to pay for their children’s college education through child support
Is mediation the best option during a gray divorce?
Many couples going through a gray divorce will choose to go through the process of mediation for a number of different reasons. The first is because divorces usually take time. A divorce can take years and couples at these ages may not want to spend their time divorcing through litigation. Mediation is generally a faster method. Another reason is that divorces can be stressful and at an older age, individuals may be facing other stressful problems like medical concerns, their jobs, caring for elderly parents, supporting their children, etc. Mediation can be a more peaceful process that can reduce some of the stress of the situation. Lastly, divorces can be expensive. Spouses at a later age may either be retired or planning to retire soon. Instead of spending money on litigation, they may try to protect their retirement funds by using mediation. Mediation is usually a faster, more economical process.
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