Do You Understand Gray Divorce?
Gray divorce is a reference to couples who divorce later in marriage, especially those approaching or well into retirement age. The longer your marriage and the older you are, the more complex the divorce process. Not every attorney is equipped to manage the complex elements involved in gray divorce. Fortunately for individuals living in and around Chattanooga, attorney Patricia Vital has years of experience helping couples manage complicated divorce proceedings.
Below are commonly asked questions about gray divorce. For personalized answers, please contact Ms. Vital through her online form or by calling 423-822-2513.
What Makes Gray Divorce Complicated?
After decades of marriage, most of your assets will be marital assets. This means that your financial life and property division can become very complex. Retirement funds, investments and real estate holdings require extra attention, especially because you depend on this income for retirement and elder care.
What Will Happen To My Retirement Fund If I Get Divorced?
Retirement funds are subject to a wide range of laws. Generally, if you or your spouse contributed to the retirement fund during your marriage, it can be divided during property division. However, negotiations and other property offerings may help you keep your retirement fund intact or minimize the impact of divorce.
My Spouse And I Are On A Fixed Income. How Will Divorce Affect Me?
Divorce is a very complex matter, and, depending on your finances, your income may be affected. If you are using a trust, personal savings or a retirement fund as the source of your income, you may see a substantial change in your monthly resources. Only an in-depth examination can give you an accurate estimate of the long-term impact.
What Will Happen To Our Home?
Many couples choose to sell their shared home and divide profits from the sale. However, you may decide keeping your home is the best option for you. Either way, we can help you plan a course of action that helps you predict your future and maintain your quality of life.
Can I Afford A Divorce?
The only way to appropriately budget for a divorce is to speak with an attorney and ask for an estimate. Ms. Vital can help review your case and give you an approximate budget.
Contact Vital Law Office & Dispute Resolution Services For More Information
At Vital Law Office & Dispute Resolution Services, attorney Patricia Vital is your partner in the law. She is known throughout the community as a dedicated divorce attorney offering decades of experience and a wide range of personalized services. Speak with her about your specific situation today.