At the beginning of a new year, it all seems to be about setting resolutions for the year ahead. At Valentine’s Day, Cupid rules the day and romance is alive and well. By St. Patrick’s Day, the year is in full swing. Many parents are helping their kids build Leprechaun traps with faux gold coins and glitter. And although the holiday often celebrates the luck associated with four leaf clovers, not everyone is so lucky in love. The reality is that feeling unlucky in love can happen during nearly any decade of life.
The Young Twenty-Somethings. Perhaps you were married young and realize that the rush to the altar was not a great idea. During this decade, it could be a short-term marriage without children. Although you might feel disappointed in the breakdown of the relationship, your divorce might be relatively simple. Spousal support may or may not be an issue and there may not be many assets to divide.
The Rising Thirty and Forty-Somethings. These are the decades where divorce lawyers often find many of the most stressful divorces. You may have young children and feel guilty about how their life is going to unfold because of your separation. Perhaps you and your spouse are arguing over custody, parenting time, and educational decisions. Divorces in these decades might require the assistance of mental health professionals to perform Best Interest Evaluations or an educational expert to provide a report on the school options for your children. Limited durational alimony and child support are likely at issue and often a marital home has been purchased that one party wishes to reside in with the children.
The Established Fifty and Sixty-Somethings. Many couples stick together until the children head to college or reach emancipation. Without feeling like they must keep up a united front for the children, couples often separate in their 50s and 60s after they are well-established in their careers. Although child support may no longer be an issue, spousal support is frequently open durational in nature and there are likely substantial assets to divide, including retirement accounts. It may also be that one of the parties has built a business empire throughout the marriage and it is now necessary to retain a forensic accountant to perform a business valuation.
The “Gray” Seventy and Eighty-Somethings. Divorce between those of a more advanced age is often referred to as “gray” divorce. You may have decided that you are ready to live more authentically and simply cannot stand the thought of living the remainder of your life with a spouse who chews so loudly that you can’t hear yourself think anymore. At this age, it is also possible that this is a second or third divorce. Having learned from prior divorces, the parties may simply be looking to enforce their prenuptial agreement.
At Cohn Lifland, we know that divorce can happen at any age. No matter what stage of life you find yourself in, our team at Cohn Lifland is prepared to assist you.