Divorces, just like marriages, come in various shapes and sizes. Some divorcing couples are young, having only been together for a few years; others may be parents of minor children who need to answer questions about child custody and support as part of the divorce process; and yet others are retirees, who face unique issues as such during the divorce process. Those who fall into the latter category are commonly referred to as parties in a “grey divorce.” At the law office of Fay, Farrow & Associates, P.C., our experienced divorce and family law attorney will skillfully help you navigate your grey divorce.
Unique Issues in Grey Divorce
Those who are retired and in their golden years face unique issues when separating from their spouse. Indeed, instead of having to worry about child custody and support issues (most people in this age category do not have minor children), those in a grey divorce must consider issues such as:
- Alimony (Maintenance). Many couples in a grey divorce have spent the better part of their lives together, which means that an alimony (maintenance) award–perhaps even a lifetime alimony award–will likely be a part of a divorce settlement.
- Proving separate vs. marital property. Because Illinois recognizes equitable division of marital assets, all assets that were acquired during the marriage will be subject to division, whereas separate assets will not. For couples who have spent decades together, proving whether an asset is separate vs. marital can be extremely complicated.
- Understanding Social Security, life insurance, retirement accounts, pensions, and more. Finally, while those pursuing a grey divorce may not have to deal with the complicated nature of reaching a child custody decision, they will likely need to reach a determination about how retirement accounts and pensions will be split, what will become of any life insurance policies, and each party’s right to claim Social Security benefits post-divorce.
Why You Need a Skilled Divorce Lawyer
One of the best ways to protect your best interests during a grey divorce is to work with a skilled family law attorney who has experience handling divorce cases similar to yours. Your divorce lawyer will serve you by:
- Helping you understand the laws surrounding property division, alimony (maintenance), and other elements of a divorce;
- Working with other experts to create a financial plan, investigate any hidden assets, and uncover any evidence that could affect a divorce settlement;
- Representing you in negotiations and mediated sessions with your spouse that are designed to reach a fair divorce settlement; and
- Representing you in court should your divorce case require litigation.
Our Naperville Grey Divorce Lawyers Are Here to Serve You
At Fay, Farrow & Associates, P.C., our team of knowledgeable divorce lawyers can provide you with the comprehensive legal services you require when you’re going through a grey divorce. To talk with one of our divorce lawyers today, please call us directly or send us a message online. We serve clients in Naperville, Downers Grove, Lombard, Lisle, Aurora, Wheaton, and surrounding areas.