Updated: Feb 5
Realities of Gray Divorce
The rate of gray divorce is increasing amongst people at the age of 50 and older. According to a recent report published by the U.S Census Bureau, divorce rates amongst people aged 55 to 64 were highest at 43%. In other words, married couples staying in long-term marriages are struggling. Apparently it is hard for them to find common grounds in the present less-than-ideal circumstances. Maybe they were already on verge of separation but stayed together until the children left their proverbial nests. Now that the major responsibilities are behind them, couples are going separate ways to forge their own paths.
Some of the most popular recent gray divorce examples are Jeff Bezos and MacKenzie Scott filing for a divorce in 2019. Another high-profile example was when Bill and Melinda Gates decided to end their 27-year marriage on August 2, 2021.
Why is Gray Divorce Trending?
For some couples, divorce at 50 is easier than when you are in the thick of it with a mortgage and young children. Additionally, you worry more about being judged by your parents, family, and friends when you are younger. Therefore, you are just stuck with your decisions. However, by the time you turn 50, you just do not feel the need to apologize for any of your decisions.
Divorce at 50 can be Trickier
While you may be carefree as you grow older, divorce at 50 can be trickier in more ways than you can imagine. Some of the most unique challenges when divorcing at a later stage in life come with dire consequences for one or both parties. The main bone of contention is splitting your financial and marital assets.
It is hard to determine who deserves what when you have built everything together over many years of marriage. While money may not mean a thing for couples with high net worth, it can cause a lot of stress and severe financial problems for the average wage-earning couple.
Therefore, if you are in your elder years and decide to divorce at 50 or later age, you must consider the way forward that is in the best interest of you and your spouse.
Divorce at 50 - Mediation Is Better than Litigation
If you are a couple aged 50 or over, you need to understand the challenges lying ahead in the divorce process. You can go through a litigation process and let the court decide the fate of who gets what or opt for a more civil way to resolve any conflicts via mediation.
Mediation refers to an informal process for conflict resolution with the help of an independent and neutral third-party mediator. This comes with its own sets of benefits instead of filing lawsuits and battling it out in court.
Benefits of Mediation
Here are some of the benefits of why mediation is better than litigation if you want to divorce at 50.
It is a Faster Way
Where litigation can take months to finalize, mediation typically takes days or a few weeks to sort out your financial and asset disputes.
It is Less Expensive
Mediation is by far less expensive compared to the litigation process. You can employ a mediator at a comparatively low cost than employing a divorce attorney. Combine that will resolve issues in a short period of time, and you can both go your separate ways.
It is Confidential
Unlike lawsuits which are public, mediation is a more private activity that happens behind closed doors with you, your spouse, and a mediator. There are no recordings, transcripts, or evidence kept on record. It is all verbal, and you can mutually agree to arrive at a fair division of assets.
It can Preserve Your Relationship
Preserving your relationships is one benefit that most divorcing couples overlook. Litigation can destroy years of personal and business relationships. Whereas mediation is about collaborative understanding between both parties, and there is no win or lose outcome.
Based on all of the above-mentioned reasons, both parties generally get the best outcome in their interest through mediation. The whole purpose of mediation is to come up with a win-win situation for both partners with no admission to guilt or fault. Plus, you sit together to make all settlements until both of you get satisfactory results.
Couples tend to comply better with mediation resolution than a court imposing its ruling whether you like it or not.
An effective mediation lays the groundwork for a non-confrontational and collaborative problem-solving approach and preserves your relationships. If you are a couple about to divorce at 50, hiring a mediation expert can help you save time, money, and hatred in the process.
We at TriDialogue Mediation Inc. has years of experience in family/divorce, paternity laws, and all-circuit civil dispute mediation.
Call us on 772-226-7112 speak to our expert Mediator Today!