The end of a marriage is complex, and some of the most difficult issues to address are those pertaining to the division of marital property. This can be especially difficult for those who have been married for decades and have extensive assets and retirement accounts to consider. When a New Jersey couple over the age of 50 decides to end their marriage, it is often a high asset divorce.
In a gray divorce, the financial issues are often complex because marital assets have been built up over many years. Sometimes, older couples facing divorce also have concerns about how this choice will impact their children from previous marriages. The number of gray divorces is increasing, and this may be because life expectancy is longer than ever and there is less stigma about divorce.
Issues that may be important in a gray divorce include alimony and the impact on retirement savings. There is a lot at stake, which is why it is crucial for a person to proceed thoughtfully and carefully when negotiating a property division settlement. Often people are concerned with what will happen to the family home. During this process, it is beneficial for a person to keep his or her sight on what really matters, which is a strong future.
A high asset divorce is challenging, but no one has to walk through it alone. There is benefit in discussing the case with an experienced New Jersey family law attorney before making any important decisions. With the right help, it is possible to secure a fair agreement that allows for stability for years to come.