Special Issues In A Florida Grey Divorce
Since 1990, the divorce rate among people under 49 has either dropped sharply or at least leveled off somewhat. But among couples over 50, the opposite has occurred. Marriage dissolutions among this age group have more than doubled over that same time period.
The increased “grey divorce” rate is probably due to a change in moral perceptions and a longer lifespan. The majority of people in this age group now feel that divorce is morally acceptable. Meanwhile, the average lifespan has increased significantly. In other words, many disaffected fifty-something spouses in Port St. Lucie now think that perhaps they should get a divorce, because they may live another twenty-five years.
Emotional Issues in a Florida Grey Divorce
People over fifty rarely have young children. So, issues like child custody are not as prevalent in older divorces. However, there are still issues in this area.
Adult children in Port St. Lucie sometimes have a harder time accepting divorce than young children. Adults are much less resilient than children. Moreover, adults have a lifetime of family memories which their parents’ marriage dissolution threatens to shatter. There are emotional issues for the parties as well. After twenty or thirty or more years of marriage, the single life can be a very big adjustment.
Florida attorneys are not therapists. However, a lawyer should prepare grey divorce clients for the emotional fallout of a grey divorce. That includes tips on making family gatherings, like weddings and graduations, more bearable for everyone.
Financial Issues in a Port St. Lucie Grey Divorce
While the emotional component may be a little easier to deal with, the financial ramifications of grey divorce are often tremendous. Making matters even more complicated, the financial issues are much different for older couples. Some common areas include:
- Health Insurance: A nonemployee divorced spouse cannot stay on the employee spouse’s group health plan under any circumstances. The Affordable Care Act has softened the blow to some extent, but good, affordable care may still be hard to find if the spouse has pre-existing conditions. Therefore, the property agreement may need to be adjusted to compensate for the added expense.
- Alimony: Statistically, divorced women have more difficulty rebuilding wealth than divorced men. That’s especially true if the woman is over fifty. Once again, an adjustment may be in order. A Port St. Lucie wife should not be unfairly punished financially because of the divorce.
- Retirement Account: As workers near retirement, the balances in these accounts are sometimes quite high. Non Owner spouses have a number of options with regard to their portions of these accounts. Typically, a rollover is available. The new owner has the right to make additional contributions and the transition may be tax-free.
- House: Similarly, many homes have substantial equity by this time. Rather than force a sale, the judge may give one spouse a lien. When the new owner sells the house, the non owner gets his/her share of the equity at the time of divorce.
Factors in a Florida property division include the length of the marriage, any agreements between the parties, the tax consequences of the distribution, and the future earning capacity of each party.
Count On Experienced Lawyers
Grey divorces often involve complex legal issues. For a free consultation with an experienced family law attorney in Port St. Lucie, contact Eighmie Law Firm, P.A.Convenient payment plans are available.