Later-in-Life Divorce in Minnesota

In 2008, Minnesota averaged a 5.5% divorce rate. A somewhat more surprising pattern is the rising number of long-established couples among those getting divorced in St. Paul.

A later-in-life divorce, also known as a "gray divorce," represents a growing number of divorce cases in Minnesota and throughout the country. While previous generations may not have considered divorce as an option after a certain age, modern couples are finding that after many years of marriage, they now have different goals and may be happier leading separate lives.

While each divorce carries a set of special challenges, a gray divorce creates a new set of obstacles, many of them financial in nature. For those getting divorced in St. Paul, the decision to hire a St. Paul divorce attorney is important to ensure that your best interests are being addressed throughout your Minnesota divorce proceedings.

Characteristics of a Gray Divorce

Every couple getting divorced in St. Paul is different; however, couples going through a gray divorce are usually dealing with circumstances that are very different than young couples seeking to end their marriage.

Common characteristics of a gray divorce may include:

  • the couple's marriage has been in turmoil for a long time;
  • the couple share many marital assets;
  • the couple's children are grown; and/or
  • the couple is well established financially.

What accounts for gray divorce?

There are a few explanations as to why couples divorce later in life, including:

  • The desire to follow a new path in life. This could happen with either spouse, and can manifest itself in a new career goal or perhaps a move to a new location.
  • Americans are living longer. The average life span is 77 years - that's up more than 30 years over the past century, which means an increased sense of opportunity.

Financial Considerations in a Gray Divorce

In most gray divorce situations, the children are grown, but the couple may have extensive marital property including real estate, bank accounts, retirement plans, pensions, and other property that must be divided in the divorce. A St. Paul divorce attorney is often brought into the picture to help minimize what can be a financially damaging situation.

For those in long-term marriages ending in divorce in St. Paul, there are two main financial ramifications, including:

  • Savings, investments and other income must be divided; and
  • Each spouse has limited or no time to recoup the difference for their retirement years.

Divorce is difficult at any stage of life, so it goes without saying that a special set of circumstances arise when dealing with the dissolution of a long-term marriage. A St. Paul divorce attorney can work with you to establish solutions that will work best for your specific situation.

Get Legal Help Now - Contact a St. Paul Divorce Attorney

Banas Family Law, P.A., will give you the personalized service you need to resolve your family law issues, whether you are dealing with a Minnesota divorce, spousal support or child custody. Contact us today for a consultation with an experienced St. Paul divorce attorney - 651-361-8109.

Categories: Divorce