Late-in-life divorce, popularly known as “gray divorce” after the color of the hair of many the people involved, has become an increasingly common event. Couples who have found their lives growing apart for many years are electing to go forward with a divorce after decades of marriage.
People who find themselves at this point often realize that the process can be fairly complicated, at least compared with people whose marriages lasted only a few years. Real estate holdings, investment accounts, retirement portfolios and other assets can be considerable for couples approaching retirement. Untangling these assets in order to divide them is not impossible, but it can be trying for people who are hoping for more of a clean break.
Once the divorce is complete, the hope for many is that life will be simplified. After all, a single person can act without having to compromise or otherwise take a spouse’s opinion or obligations under consideration when making a decision.
What may happen, though, is that unanticipated expenses can make this easier said than done. Many expenses that can be shared as a married couple now have to be accounted for individually: housing, transportation, even utilities. Some estimates have placed the cost of living alone compared with living with another person as much as 40 percent higher. And every dollar matters for retirees.
This doesn’t mean that married people who don’t want to stay married should stick it out just to save money. It does mean that they need to have realistic expectations of what it may mean for them, and that they have thoughtful and principled attorneys to help guide them through the process.
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Partner at John F. Schutz, P.L.
Representing clients exclusively in family law cases for the past 24 years, Mr. Schutz is widely regarded as a marital and family law expert. He is Board Certified in marital and family law by The Florida Bar. As a Fellow of the American Academy of Matrimonial Lawyers (AAML), Mr. Schutz is committed to elevating the standards and improving the practice of family law.
Latest posts by John Schutz (see all)
- Is a Simplified Dissolution of Marriage a Viable Option? - October 29, 2019
- What are the Types of Alimony in Florida? - October 19, 2019
- Property Division In Florida - October 8, 2019
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