Stephen J. Buhler, Attorney at Law

Keeping an eye on finances during a gray divorce

Gray divorces is a relatively new phenomenon that is quickly increasing in popularity; so much so that the number of divorces for those aged 50 and older has more than doubled from 1990-2010. A divorce later in life can upset the balance of any couple who has spent the last few decades together. But going through a divorce with the wrong mindset can end up costing both parties more than they bargained for. With fewer years to recover from a financial misstep, the financial decisions made during a gray divorce can have a more serious impact on one's life than a divorce at 30.

Financial matters are one of the most contested issues in any divorce, but carry with it a special significance for those nearing the age of retirement. My firm understands the effect finances can have on those nearing retirement or who live on a fixed income. We strive to make sure our clients get their fair share during a divorce and we can do so without relying on bullying or needlessly aggressive tactics.

One of the first things to remember when going through a divorce or any stressful situation is to keep calm and approach the issue with a rational mind. Since Utah allows for ADR methods such as mediation during a divorce couples can essentially finalize their divorce without the need of court intervention. By utilizing mediation or another ADR method a divorcing couple can create a divorce agreement that is specific to their current and future financial situation.

Except for a very limited number of situations the property distributed during a divorce is final. This means that the parties must live with whatever the judge decides is an equitable division of their marital property.

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