How Our Divorce Lawyer on Long Island Can Help
The overall rate of divorce has been dropping in recent years, but a new trend has risen. The number of couples who divorce after age 50 has gone up dramatically. This is what is known as a gray divorce. There are many reasons why a couple who has been together for 20 or more years may want to get a divorce, and there can be higher financial and emotional consequences in this kind of divorce. That’s why our divorce lawyer on Long Island is here to help you through it.
Why Are Older Couples Divorcing?
Many things may lead these older couples to divorce, such as:
- Financials
- Infidelity
- Addiction
- Autonomy for the woman
- Empty Nest Syndrome
- Retirement
- Living longer than previous generations
- Growing Apart
The Financial Impact of Gray Divorce
Studies have shown that when a couple divorces after age 50, their respective wealth drops by 50%. The financial implications are especially hard on women, showing that a woman who divorces after 50 has her standard of living drop by 45%, double that of younger divorced women. Older men can see their standard of living drop by around 20%. Our divorce lawyer on Long Island is well-versed in this area.
In a gray divorce, there can be larger assets involved and a larger number of assets to divide. This increases the likelihood of hard feelings building between the couple. Divorce can sometimes impact social security benefits as well. To lessen the financial burden of a divorce later in life, it is important to understand how the split will affect your finances and take the appropriate steps. Our divorce lawyer on Long Island can help you navigate through these steps while protecting your finances.
The Emotional Impact of Gray Divorce
Depending on the reason for divorce, one or both spouses can feel betrayed, angry, insecure, or depressed. Divorce in later stages of life can be especially painful in some circumstances, so it is important to find healthy coping mechanisms. Seeing a therapist can help immensely in navigating the emotional distress brought on by gray divorce.
Contact Our Divorce Lawyer on Long Island
Simonetti & Associates is equipped to handle your divorce with care at any stage in your life. We strive to provide high-quality legal representation while keeping costs to a minimum.
Contact us today to get your questions answered about divorcing later in life.
