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.