${site.data.firmName}${SEMFirmNameAlt}
Call for a Free Initial Consultation
Review Us
888-807-5629
734-403-4189
Creating Personalized Solutions We use our skill and experience to help each client secure the best available resolution to their situation.

Michigan divorce law: The disadvantage of a gray divorce

When it comes to divorce, there are advantages and disadvantages to ending one's marriage. These will be different for everyone, depending on one's station in life. For couples in Michigan who are dissolving their marriages, a divorce law attorney can help make the disadvantages easier to handle.

The biggest advantage of divorce is that, when all is said and done, both parties can move past a relationship that is no longer something that they desire. Disadvantages, on the other hand, are different for younger couples than older couples. For example, for those with children, figuring out what is best for them while they are still young and living at home can be a burden. On the other hand, those going through a late-in-life divorce may find that the financial effects are the biggest disadvantage.

Gray divorces, or the filing for divorce while in one's 50's or older, has seen a significant increase since 1990. It is believed that this is because spending retirement years in an unhappy marriage is simply undesirable. There is nothing wrong with that.

The problem with divorcing near or while in one's retirement years, is that it can do quite a bit of financial damage to one's nest egg. It can be hard to recover so late in the game. For this reason alone, the property division settlement must be meticulously planned in order to do as little damage as possible.

Couples in Michigan who are seeking to end their marriages later in life can seek assistance as they figure out the best way to divide assets. A divorce law attorney and financial advisor, among other professionals, will be able to provide guidance during this difficult time. With the right people at one's side, achieving a fair and balanced settlement is a possibility.

Source: finance.yahoo.com, "Gray Divorce: The Financial Challenges and Opportunities", Maryalene LaPonsie, April 20, 2017

No Comments

Leave a comment
Comment Information

Tell Us About Your Legal Issue

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

5885 N. Wayne RD | The | Smith | Law Offices, P.C. | 734.729.4465

The Smith Law Offices, P.C.
5885 N. Wayne
Westland, MI 48185

Phone: 734-729-4465
Fax: 734-729-4498
Map & Directions