Gray Divorce in NC – What Couples Over 50 Need to Know
Gray Divorce in North Carolina | Divorce Over 50 | Raleigh Divorce Lawyer
Gray divorce is becoming more common for couples over 50 in North Carolina. If you're considering divorce later in life, you need to understand how property division, retirement accounts, alimony, and long-term financial security may be affected.
In this video, a Raleigh family law attorney explains what couples over 50 should know before filing for divorce in NC.
📍 Charles R. Ullman & Associates
109 S. Bloodworth St., Raleigh, NC 27601
📞 (919) 829-1006
🌐 https://www.charlesullman.com/
#GrayDivorce #NorthCarolinaDivorce #RaleighDivorceLawyer
Transcript
00:00:00.000 — 00:00:11.640
A lot of times I'm asked about divorce after 50 years of age and the special legal and financial consequences that come to parties seeking a divorce in what we call a gray divorce.
00:00:19.440 — 00:02:03.470
What is a gray divorce? And what does that mean? And why is it increasing? What it means is couples that have been married for a long period of time, typically their children have graduated from high school and are attending college, are finished college, and are now considering getting a divorce. One reason that people are getting divorced at later years of their life is that people are living longer.
What is the unique thing about people that are 50 or 55 years of age getting a divorce? The impact it will have on their retirement planning. Typically, in a great divorce, the parties have accumulated larger assets due to their retirement, home equity, pensions and investments. And at this point in their lives, they're trying to figure out how to transition into that last portion of their life called retirement.
Integrative horse people are typically working, but they are very near retirement. What are some things that are unique to gray divorce? One is that you're closer to retirement than the average couple coming in. And the question becomes if there's a spousal support obligation for alimony, how much longer do I have to work?
And do I have to work just to pay an alimony obligation? One issue that needs to be considered in a gray divorce is how will this affect my estate planning issues? This is something that's easy to overlook, and frequently we bring in another professional to help us evaluate. Will I have enough money in retirement?
One question that comes up in a gray divorce is am I entitled to my spouse's Social Security? What will my Social Security payments be? These questions are important to ask your attorney. If you have questions about a gray divorce, please feel free to call us or send us an inquiry online. We look forward to helping you.
