Are you considering a gray divorce in New Jersey and wondering how to protect your future? Ending a marriage later in life comes with unique challenges, from dividing retirement accounts to updating estate plans. Joseph J. Russell Divorce & Family Law Attorney of Wilentz, Goldman & Spitzer, P.A., can provide the guidance you need during this time. Contact us today for your initial consultation, and get the support you need to start the next chapter of your life with confidence.

Why You Need an Attorney to Handle Your Gray Divorce Case

Attempting to handle a gray divorce on your own can lead to serious financial setbacks, missed details, and emotional strain. Without quality legal representation, you risk losing key assets, facing tax issues, and ending up with an unfair settlement.

Many divorces involving couples over 50 include complex financial matters, such as retirement accounts, inheritances, and estate plans. A New Jersey gray divorce attorney can help you understand the long-term impact of these decisions and protect your future.

When you hire Joseph J. Russell Divorce & Family Law Attorney of Wilentz, Goldman & Spitzer, P.A., you gain access to over a century’s worth of experience in New Jersey family law. Led by Joseph J. Russell, our firm handles every divorce case with a personal touch, focusing on reducing stress, financial burdens, and potential conflict.

Joe is also part of Wilentz, Goldman & Spitzer, P.A., one of New Jersey’s oldest law firms. This means he has access to a vast network of partner attorneys with experience in practice areas like tax law and estate planning, which often intersect with divorce.

No matter your situation, you can trust Joe and his team to provide experienced, attentive, and confidential guidance every step of the way.

What Is Gray Divorce?

Gray divorce cases are those involving spouses 50 and older. Even as divorce has become less common among younger adults, divorce rates for older adults have increased significantly in recent years. Research shows that gray divorces were rare from 1970 to 1990, with spouses 50 and older representing only about 7 to 9 percent of divorcées. However, by 2010, this figure had jumped to 27 percent. By 2019, more than one in three divorces involved people over 50. This shift reflects changes in social norms and increased life expectancy, with many older adults choosing to reshape their golden years to align with their personal goals and values.

What Are Common Issues Involved in Gray or Senior Divorce Cases?

Gray divorce cases differ from those involving younger couples because they typically include considerations like retirement funds, established assets, and long-term financial planning. While each divorce is unique, specific issues commonly affect older couples during the process, such as the following:

  • Retirement – Retirement assets often represent a major source of financial security for older couples. In a gray divorce, dividing pensions, 401(k) plans, and other retirement accounts is often necessary. If one spouse has been the primary earner, both spouses must carefully consider how to split these funds fairly. Without proper planning, one or both parties risk compromising their retirement plans and having to work longer or adjust their lifestyles.
  • Alimony/Spousal Support – Alimony can be a significant concern in gray divorces, especially if one spouse has been financially dependent on the other for many years. In New Jersey, judges consider factors such as the length of the marriage, the health of both spouses, and their respective earning capacities. Older spouses often have reduced earning potential, which makes long-term or permanent alimony more likely.
  • Marital vs. Separate Property – Determining what qualifies as marital versus separate property can be complicated after a long marriage. Distinguishing between assets acquired before and during the marriage is essential, but this process is often difficult for older couples, especially if they own real estate, businesses, or significant investments. The classification of assets can influence how property gets divided and shape each party’s financial future.
  • Estate Planning – Divorce often requires a complete review of estate planning documents, including wills, trusts, and beneficiary designations. Estate planning is critical for couples divorcing later in life to ensure their wishes reflect their new marital status. For instance, if an older spouse has children from a previous relationship, updating estate planning documents can prevent potential conflicts or confusion among heirs.
  • Custody and Visitation– Gray divorce cases more commonly involve adult children, but some older couples still have minor kids. When determining custody, New Jersey courts consider the best interests of the child, including factors like stability and parental involvement. Older parents sometimes face unique parenting considerations in custody and visitation cases, such as managing health issues or planning for their children’s long-term care.
  • Health Insurance Coverage– Health insurance is an essential consideration, particularly for those approaching retirement age. In many gray divorce cases, one spouse relies on the other’s employer-sponsored health insurance. After divorce, the dependent spouse must find new coverage options, which might involve applying for COBRA, purchasing a private policy, or exploring Medicare. This can significantly impact financial planning for older couples.

A New Jersey gray divorce lawyer can assess your situation and determine which of these areas could affect you most.

What Assets Could Be at Risk in a Gray Divorce?

Property division is a major focus for many divorce cases involving couples over 50. Over the course of a long marriage, couples often accumulate a range of assets that hold both financial and emotional value. The division of these assets can greatly impact future financial security and retirement planning for both spouses.

At-risk assets in gray divorce cases commonly include the following:

  • Investments – Investment accounts, including stocks, bonds, and mutual funds, often play a key role in a couple’s overall wealth. Determining who gets what portion of these assets can involve complex financial calculations, especially since the value of investments can fluctuate.
  • Properties – Older couples sometimes own multiple properties, including primary homes, vacation homes, and rental properties. Deciding how to divide or liquidate these properties requires considering factors such as each property’s value, mortgage status, and upkeep costs.
  • Wills and Trusts – Divorcing couples often revisit estate planning documents, like wills and trusts, to remove former spouses as beneficiaries or executors. Additionally, joint trusts or wills might need modification so each spouse’s estate reflects their individual wishes moving forward.
  • Inheritances – An inheritance received by one spouse during the marriage could be at risk during a gray divorce, depending on how the couple handled the funds. If the inheritance was commingled in joint accounts or used for marital expenses, it could be subject to division.
  • Retirement Accounts – Retirement funds, such as pensions, IRAs, and 401(k)s, often represent a significant part of a couple’s net worth. Dividing these accounts requires careful planning and possibly a Qualified Domestic Relations Order (QDRO) to split the funds legally.
  • Insurance Policies – Life insurance policies, particularly those with cash value, are another important asset many older couples must consider. Additionally, both parties should review health and long-term care insurance policies to determine if new coverage is necessary.

Are There Social Security Benefits Matters to Consider in a Gray Divorce?

Yes, Social Security benefits often play an important role in gray divorce cases. Many older couples must consider how divorce could impact their Social Security income, especially if one spouse earned significantly more than the other. In many cases, a lower-earning or non-earning spouse might qualify for benefits based on the higher-earning spouse’s work record. However, to be eligible, the marriage must have lasted at least 10 years, and the lower-earning spouse must be 62 or older to start collecting.

Divorce does not reduce the higher-earning spouse’s benefits, so both former spouses can claim benefits based on the same record without affecting each other’s payouts. Additionally, if one ex-spouse dies, the surviving ex-spouse might be eligible for survivor benefits, which could increase their monthly payments.

What Are Common Causes for Gray Divorce?

As people reach their 50s and beyond, their priorities and goals often change. While some couples grow even closer during this phase, others find themselves drifting apart. Various factors contribute to gray divorces, and while every case is unique, certain themes are particularly common, such as the following:

  • Different Life Goals – Over time, some couples realize they have different visions for the future. One partner might wish to travel or start new hobbies, while the other prefers a quieter lifestyle. These differences can create tension, and divorce can be the right solution for some.
  • Empty Nest Syndrome – After children leave home, parents often face a period of adjustment. For some, this transition brings a renewed sense of purpose as a couple. For others, the absence of shared parenting responsibilities reveals a lack of connection.
  • Financial Disagreements – Disagreements over money can become more pronounced as couples age. One spouse might want to save for retirement, while the other prefers to spend on current pleasures. Differing approaches to spending, saving, or debt can lead to resentment and conflict.
  • Infidelity or Emotional Disconnect – Some couples grow emotionally distant with age, which can make infidelity more likely. One or both partners might seek companionship or excitement outside the marriage through emotional or physical connections.
  • Health Challenges – Health issues can put a strain on marriages, especially if one partner requires significant care. The stress of caregiving, combined with the emotional impact of a spouse’s declining health, can lead to feelings of frustration or resentment.