What is a gray divorce in Louisville or Jefferson County Kentucky? The term “Gray Divorce” has gained a lot of visibility in the past several years. Gray divorce refers to divorce cases when the parties are 50 years of age or older. There were concerns in recent studies which showed gray divorce had doubled over the past 30 years. It may provide some comfort to know the rate of gray divorce is still half of those for married couples under the age of 50.
Ohio’s Bowling Green State University National Center for Family and Marriage Research recently weighed in on several factors common in gray divorce cases across the nation. It may seem apparent that changes in the family such as the children leaving home or those brought on by retirement might lead to a divorce.
However, the Center’s recent study showed the mutual financial interests (joint investments or real property ownership) and financial security played a large role. The study of more than 5,000 cases showed marriages with more than $250,000 in assets and shared property ownership were more likely to succeed.
Prior divorce also played a heavy role in gray divorce statistics. The study showed divorce rates for those above 50 who had been through a previous divorce were more than three times higher than those who were in their first marriage.
Gray divorce in Louisville or Jefferson County usually involves significant assets and community property, business ownership, the division of retirement accounts and social security, maintenance and other complex factors. It is important to seek the counsel of the experienced Louisville divorce attorneys at Dodd & Dodd. We have decades of experience representing clients before local family law courts. We have been recognized and recommended by the legal industry as well as our former clients.
We invite you to contact us or call 502-584-1108 to schedule an appointment. We will discuss your concerns and guide you through the planning and challenges which may lie ahead.
