What Is A “Gray Divorce” And A “Sleep Divorce”?
A common term that has been used to describe couples who obtain a divorce in the second half of their life is known as a “gray divorce.” More and more couples are obtaining gray divorces; specifically, divorces after the age of 50 have doubled since the 1990s, and tripled for those ages 65 or older.
But how is this different from younger couples getting divorced? Well, in several significant ways: First, older couples have typically accrued more assets, which include significant retirement funds. In addition, in terms of divorce agreements, older couples divorcing should be more concerned about retaining assets that are going to bring in sustainable income, in case they become unable to work in the near future.
Below, we discuss some important tips to keep in mind if you are seeking a divorce later in life. We also address a new trend that has emerged – the “sleep divorce” – and to what extent it’s working for couples.
Important Tips If You Are Divorcing Later In Life
If you are seeking a divorce later in life, in finding legal counsel, one of the most important factors you should look for in an attorney is someone who has experience with Qualified Domestic Relations Orders (QDROs). This will help ensure that any IRA transfers are done properly and without significant penalties and tax consequences.
Another piece of important advice involves putting a lot of careful thought into whether you should keep the family home or not. Many individuals make the mistake of bypassing claims to important marital assets in exchange for keeping the house, which then results in a mortgage that eliminates their ability to put money away into savings every month.
Given how unpredictable the real estate market can be–and the fact that unforeseen circumstances can leave you unable to work in the second half of your life–holding onto the family home for dear life is a potential money pit that you may want to avoid.
What Is A “Sleep” Divorce?
Another “trendy” term that has recently emerged is known as the “sleep divorce.” This describes a couple who, due to different sleeping schedules and other related factors, have decided that they need to sleep in separate beds. According to surveys cited, it may be more popular than you realize: An average of 31 percent of people (at the national level) indicated that they wanted to sleep in a bed separately from their partners.
When broken down by gender in one state only (Texas), more men (41 percent) indicated that they wanted their own bed space than women (30 percent). The most frequently cited reason was due to partners having different sleep schedules, followed by issues due to sleep disorders, having different sleep habits, and the bed being too small. And according to that same survey, a quarter of couples stated that their relationship improved after the sleep divorce.
Florida Divorce Attorneys
If you live in Florida and have a question about divorce, contact one of our experienced divorce attorneys at the Arwani Law Firm today to find out how we can help. We are eager to assist you immediately.