Partner James Reed discusses the rise in divorces among older couples and how this presents unique family law issues in a recent article for the Indiana Lawyer. This recent phenomenon called "gray divorces," or divorces among couples who are 50 or older, presents unique legal nuances since couples have typically been together for several decades and typically have grown children involved in the matter. However, chief among those nuances are financial considerations, which can present unique challenges for spouses who are at or nearing retirement.

"When couples choose to divorce in their 30s or 40s, they still have time to recover financially, said Reed. "That's because adults at that age have several years, if not decades, left in their careers. And even if one spouse did not have a career during the marriage, a decision to divorce in their 30s or 40s still gives that spouse time to acquire the training necessary to build a career for life on their own." But when divorce occurs when a couple is in their 50s or later, careers may either be coming to a close or are completed, and spouses are often living on fixed incomes provided through Social Security or retirement benefits.

 With other unique nuances that accompany a gray divorce, Reed does not think Indiana's divorce laws are in sync with the new phenomenon. There is concern about the financial implications of gray divorce, "as the system tends to favor working spouses over non-working spouses. Though divorce proceedings are begun with a presumption of a 50-50 split of assets, the reality is often closer to 60-40, leaving the non-working spouse with the burden of finding financial resources that will enable them to build a life on their own," Reed said.

"That doesn't even slightly compensate for the inability to share in the future income of your spouse," said Reed. "It's a no-win for the one side and a complete win for the other side."

You can read "Rise in divorces among older couples presents unique family law issues" on the Indiana Lawyer website.

Bingham Greenebaum Doll is now part of Dentons. This release was published prior to the combination, which was effective in January of 2020. For more information, visit dentons.com or view our announcement.

About Dentons Bingham Greenebaum

Dentons Bingham Greenebaum is a premier regional business and tax law firm, based in the Midwest. The firm has helped its clients close deals, manage risks, and open doors to new opportunities for more than 100 years.  Dentons Bingham Greenebaum provides transactional, litigation, estate planning, tax and employee benefits, and economic development advice to clients across a variety of industries and business sectors. The firm’s client base is diverse and contains regional, national, and international engagements. The lawyers at Dentons Bingham Greenebaum serve clients in the communities where they live and work, with locations in Indiana, Kentucky, and Ohio. For more information, visit www.dentons.com