Gray Divorce Lawyer in New Jersey

More and more married couples are divorcing after long marriages, and it changes the legal landscape of their cases. To begin, child custody and child support are seldom concerns, but the increased wealth that often comes with age can make the division of marital property that much more challenging. Additionally, alimony is more common in these so-called gray divorce cases, and it comes with legal intricacies of its own. Facing a gray divorce? Our experienced New Jersey gray divorce lawyer at Warren Law Firm welcomes the opportunity to help.

The Division of Marital Property in a New Jersey Gray Divorce

The term gray divorce is generally reserved for couples who are over the age of 50, and at this point in their lives, many have amassed considerable assets. This is not to mention that retirement accounts become more relevant, and the issue of inheritance is more likely to play a role.

Equitable Distribution of Marital Property

New Jersey employs equitable distribution of marital property in divorce. This means fair division, given the circumstances at hand, and in a gray divorce, there tend to be more circumstances to consider. It’s important to keep in mind that a fair division does not necessarily mean an equal division, which means the stakes can be very high in a gray divorce.

Relevant Factors

Some of the key variables that help New Jersey courts establish property division in divorce include all the following:

  • Each spouse’s income and earning potential
  • The duration of the marriage
  • The contributions each spouse made to the marriage, including in relation to homemaking and childcare
  • The standard of living that the couple established over the course of their marriage

Each of these can be directly affected by a gray divorce. As a result, the division of property in a gray divorce can look very different than it might in a similar divorce involving a younger couple.

Consider, for example, one spouse who quit working to raise the children and support the other’s career. There may be very little chance of them becoming financially independent by the time a gray divorce rolls around.

Alimony

In New Jersey, alimony, or spousal support, is most common in cases involving long marriages and significant financial disparity between the spouses. And gray divorce tends to fall squarely in this category.

New Jersey has what’s called open durational alimony, which is generally reserved for marriages that lasted at least 20 years. This is long-term support that can continue to the point that the payor reaches the age of full retirement and beyond. Gray divorce often supports alimony for a considerable length of time.

It’s Time to Consult with Our Experienced New Jersey Gray Divorce Attorney

Kenneth Warren is our trusted New Jersey gray divorce lawyer at Warren Law Firm, and he’s well acquainted with the legal intricacies involved. We have the experience and legal skill to help make a big difference in the outcome of your case, so please don’t delay contacting us online or giving our firm a call at 609-345-7717 today.