Hollywood and family law firms across the country are abuzz right now due
to the recent announcement of the Brangelina (Angelina Jolie and Brad Pitt)
divorce. While most people are interested to see how the
property division and
child custody agreements will pan out, they are overlooking the fact that this is technically
a “gray divorce” for Mr. Pitt, aged 52, soon to be 53. In
legal terms, a gray divorce is any divorce filing that occurs when someone
is 50 years of age or greater. On the surface, gray divorces seem like
any other, but a closer look can reveal some unforeseen complications.
Gray Divorce, Gray Areas
When someone is young and goes through a divorce, they have “their
whole life ahead of them”, as people often say. Rebuilding financially
and emotionally can be significantly easier when someone still has plenty
of opportunities on the horizon. But for people in their elder years,
they can find their new horizons much more limited.
Many elders will admit to not staying up with technological trends since
they were not important in their day-to-day lives. If a person in their
golden years goes through a divorce and suddenly finds that they need
to find gainful employment for themselves, this can be considerably difficult
if they don’t have the resources and knowledge required in the modern
workplace. Suddenly, they may find themselves losing their residence,
their health insurance, their savings, and much more if the divorce agreements
don’t take into account that they might not be able to find employment
for some time.
Gray divorces usually occur after a lengthy marriage and, thus, the shared
marital estate can be large and valuable. In the aforementioned Brangelina
divorce case, they were only married for two years but, as a celebrity
couple, they did accrue enough finances to be create a
high net worth divorce all the same. Sizeable estates require extra attention, to say the least
of it, especially if prenuptial or postnuptial agreements were never created.
In general, an older individual stands to “lose more” than
a younger divorcé if property and
debt division are done incorrectly or unfairly.
Let Us Be Your Legal Guides
Are you going through a gray divorce? Although you probably aren’t
catching as much national attention as Pitt and Jolie, you are likely
going through the same legal disputes and emotional struggles. Allow our
Long Island divorce attorneys at Rubenfeld Law Firm to help you understand
your rights and protect your best interests. Call
631.777.7200 and request a
free consultation to begin.