Are Gray Divorces Quicker Than Regular Divorces?

 Posted on December 20, 2023 in Divorce

Regardless of one’s age, divorce can be a highly emotional process. Ending a marriage is no easy decision, and when older adults over the age of 50 get divorced in “gray” divorces, the stakes can be even greater. Gray divorces present unique challenges, especially when it comes to the financial aspects of the dissolution of marriage. If you are approaching your gray divorce and you are wondering how long the process may take you, contact a lawyer in Illinois, as they will be able to answer your questions while providing you the legal guidance you need and deserve at this time.

Critical Elements of Gray Divorce

With life expectancies on the rise, gray divorce has become increasingly common as more and more older adults are deciding to end their marriage on a quest to find that special someone, even in the later stages of their life. While the reasons for gray divorce vary significantly, some common factors include empty nest syndrome, growing apart over the years, or simply wanting to pursue personal happiness in the twilight years. However, unlike regular divorces, gray divorces often involve more intricate financial considerations due to the accumulated wealth and retirement funds of older adults.

Complex Financial Situations of Older Adults

One of the primary reasons gray divorces tend to be more time-consuming is the complexity of the financial situations involved. Older adults often have significant savings and retirement accounts, which must be appropriately distributed during divorce. Determining the fair division of these assets can be a challenging task, as it may involve pensions, 401(k) plans, real estate, stocks, and other investments.

Possibility of Extended Divorce Proceedings

While all divorces are different, the distribution of retirement funds and other assets can prolong gray divorce proceedings. While younger couples may have fewer or less complex assets, older adults may possess more substantial financial portfolios that require careful evaluation and consideration. Additionally, the emotional toll of ending a long-term marriage can further complicate negotiations, potentially leading to more extended settlement discussions.

Give our DuPage County, IL, Divorce Lawyer a Call Today

While gray divorces may not necessarily be quicker than regular divorces, they do present unique challenges. However, these challenges are no match for the legal guidance of a seasoned professional. For representation in your gray divorce, look no further than the dedicated Wheaton, IL, divorce attorneys with The Stogsdill Law Firm, P.C.. Call 630-462-9500 for a private consultation with us today.