The term "gray divorce" refers to those who move forward with a divorce later in life. Anyone that is over the age of 50 fits into this category. These individuals bring unique issues to divorce compared to those who are going through a split in their twenties or thirties. These individuals have had time to save for retirement and build their portfolios. As a result, these individuals must address the handling of these assets carefully during divorce.
Divorce is a difficult enough process, and any additional complexities can be overwhelming. High-earning couples understand this well as they prepare to divide assets they amalgamated at their union.
Division of assets during divorce can result in contention. This portion of the split involves a careful review of all assets and debts. The divorcing couple must take every marital asset into consideration or else find themselves dealing with surprises after the divorce is finalized. These issues can be mitigated by knowing some common issues.