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Divorce is never easy, but when a couple faces a ‘gray divorce,’ the situation poses a unique set of circumstances for the couple. The current literature and many news articles that address ‘gray divorce’ through the various news outlets show a trend towards older couples getting divorced after many years of marriage, raising children, and collecting assets and debts. With nine years of experience in Montgomery County, Texas as a trial attorney, Jeredith Jones has the experience and knowledge to address the unique concerns of individuals facing a Gray Divorce. Jeredith Jones has extensive experience in handling the issues that are important to individuals facing a gray divorce in Montgomery County, Texas, Harris County, Texas, and Walker County, Texas. Under specific circumstances, Attorney Jeredith Jones will represent clients outside of these counties. Call for a free half hour consultation today to discuss your needs.
Individuals who have been married for more than fifteen years or who are over fifty years old and seek divorce are part of the group considered as seeking a ‘gray divorce.’ This group is generally referred to as the baby boomers generation and as of 2010, one in four divorced individuals were divorced after the age of 50 verses one in ten in 1990. The literature states that within this demographic, divorces are on the rise as opposed to every other age group where divorces are at an all time low. One of the preliminary reasons for this uptick in divorces in this demographic is that it is generally thought that the baby boomer generation has a reputation for more unstable relationships. In addition, younger couples are waiting longer to get married, if the couple gets married at all.
Many events and circumstances can cause a divorce for couples who have been married for so many years but the financial and social consequences of divorcing later in life can be profound. It is important to be sure that you do actually want the divorce and that once you have made the decision to divorce, that your financial wellbeing is not impacted more than necessary. Some couples express that the change from one spouse working full time to being at home full time causes tension and difficulty in the relationship. Often compounding the strain of this change, putting extensive time and attention into raising children can cause difficulty when couples become empty nesters. Any individual should make sure you want to get divorced and try to attend counseling and try to reconnect if you think the marriage can be saved, the consequences of a gray divorce in Montgomery County are very serious. Lawyer Jeredith Jones can assist you in Conroe, Texas, Montgomery, Texas, Magnolia Texas, Lake Conroe, Texas and Harris County, Texas with your divorce case.
Many individuals in the category of a gray divorce are close to retiring from jobs they’ve held for an extended period of time if they haven’t already retired. A divorce so close to retirement can significantly affect the retirement available for either spouse and if retirement has already happened, the parties may end up having penalties and other costs in order to separate.
Sometimes, individuals bring a large sum of money into the marriage and may be entitled to a reimbursement of this separate property at the time of divorce. There are a number of ways to assure that a person’s separate property can be accounted for in the final decree of divorce and Jeredith Jones, Attorney at Law, has experience with these types of property division and separate property claims in Montgomery County, Conroe, Texas and surrounding areas.
A person’s expenses will likely go up when they split from their spouse, and it is an unfortunate reality that even if there is a sizeable retirement portfolio prior to beginning a divorce, it may be difficult for both spouses to start over without struggling. In addition, if one or both spouses have not held a job for a period of time, it may be difficult to obtain a job later in life.
Spousal support in Texas for individuals who have been married for over ten years is a common occurrence when one person has been the bread winner and makes a significant amount more than the spouse that stayed home. Even so, spousal support is short term and will be limited if the value of the community estate is large and the non-working spouse is awarded a large community property award.
Even if one spouse worked and earned the majority of the retirement benefits, all retirement benefits, real property, debts and other assets will be divided according to the legal standard named ‘fair and equitable division of the community estate.’ Fair and equitable isn’t always a 50/50 division of all assets and debts, but generally, if the estate is very large or extremely small, a judge would decide that 50/50 is fair.
When considering a gray divorce, it’s important to hire an attorney with knowledge of the many aspects of a property division and the compassion to understand the specific concerns of this group of individuals. Jeredith Jones, Attorney at Law works on all types of divorces and has extensive experience in dividing property and assets in a divorce case. Call Jeredith Jones, Attorney at Law for your Montgomery County divorce, Harris County Divorce, and Walker County Divorce. Jeredith Jones, Attorney at Law offers a free half hour consultation.