Frequently Asked Questions About Gray Divorce In Texas
With over 30 years of combined experience helping people handle family matters, our family law attorneys at Teller Law Firm, P.C., have helped many older people understand more about their gray divorce options. We are here to answer any questions our clients may have from the beginning of the process to the end. Here is a collection of answers to common questions we have heard over the years:
What is a “gray divorce?”
The term “gray divorce” was coined to reference divorces involving couples 50 years of age or older, usually after long-term marriages. This reflects the fact that a divorce at that stage of life comes with unique physical, financial and emotional challenges.
Why are gray divorces becoming more common in Texas?
Gray divorces are becoming more common than ever before, both in Texas and nationwide – and there are several reasons. Longer life expectancies have caused many couples to reevaluate their relationships in terms of personal fulfillment and end relationships that no longer meet their needs. Women now have more financial independence, which makes them less reliant on their spouses for security and more willing to leave unhappy relationships. Changing societal norms have also made divorce more socially acceptable than it once was, even for older people.
Another leading cause of gray divorce is empty nest syndrome. Empty nest syndrome happens when children grow older and leave their parents’ home. This change can be hard for many parents who have spent years nurturing their children, often leading to loneliness, midlife crises and highlighted difficulties in a relationship.
Whatever the reason for the marital divide, couples can reach out to Teller Law Firm to discuss their divorce options.
How is property divided in a gray divorce in Texas?
Texas is a community property state. What this means for couples is that marital assets accumulated over the years are divided equally. Property that is part of the marital estate can include accumulated property, retirement accounts, businesses, investments, debts and real estate.
Separate property, inheritance and gifts are not part of the marital estate. However, identifying separate property after so many years of marriage can be difficult. A prenuptial or postnuptial agreement can help separate marital assets.
Older couples may need to reach out to our experienced lawyers to learn how they can protect their separate assets, identify hidden assets and evenly divide the marital assets.
How are retirement accounts handled in a gray divorce?
One of the most contentious matters in gray divorce is the division of retirement accounts. Because of the complexity of retirement accounts, such as 401(k)s and pensions, a qualified domestic relations order (QDRO) is often required. A QDRO is a legal document that helps divide accounts fairly so that each spouse receives their portion of the funds.
There are often several legal options when it comes to retirement accounts if a spouse is worried about jeopardizing their savings. For example, other assets with a higher value may be divided between spouses in a way that allows for a retirement account to stay intact. A divorce lawyer can help spouses explore their asset division options when discussing retirement accounts.
Will I be eligible for spousal maintenance (alimony) after a long-term marriage?
In Texas, couples can discuss the terms of alimony in a divorce agreement. If couples cannot reach an agreement, a court-ordered spousal maintenance arrangement may be made. However, a judge may consider several factors before deciding on spousal maintenance, including the following:
- The length of a marriage
- Size of the divided estate
- Each spouse’s income, education and training
- A spouse’s history of violence in the family
Typically, if there is evidence that a spouse cannot gain substantial income after a gray divorce, they may be awarded spousal maintenance. A family law lawyer at Teller Law Firm can help spouses explore their support options.
How does a gray divorce affect Social Security benefits?
Many older couples experiencing a gray divorce have been married for more than 10 years, which means a dependent spouse may be entitled to up to half of the other spouse’s Social Security benefits.
What happens to our estate plan after a gray divorce?
A divorce generally means that an estate plan needs to be updated. It is crucial, for example, to update the list of assets and beneficiaries in a will and trust after a divorce, typically removing a former spouse as a beneficiary of the estate. Another aspect of an estate plan that should be altered is the power of attorney. If a spouse was listed as a financial or medical power of attorney, this may need to be changed to another family member or friend. Making these changes soon after a divorce can help avoid complications.
How might adult children be affected by their parents’ gray divorce?
Gray divorce typically does not involve child custody and support arrangements. However, adult children may still experience difficulties after their parents’ divorce. It may take some time for adult children to understand why their parents divorced and how a divorce affects their relationship with their parents. Adult children may encounter different emotions over the years, especially during holidays and family traditions.
Adult children may have an especially difficult time if their parents plan on selling a family home in their divorce. Parents and children can discuss the implications a divorce will have on inheritance issues as well.
Is mediation or collaborative law a good option for gray divorce?
Yes. Mediation is an especially beneficial solution for gray divorce. Older couples can discuss their expected outcome for the divorce and what would need to happen to reach those goals. Mediation allows older couples to settle divorce matters, including asset division and alimony, without having to go to court. This option can save couples time and money on their divorce.
How can I protect my financial future during a gray divorce?
People looking to protect their financial future after a gray divorce may need to consider developing a post-divorce budget, identifying personal assets, devising post-divorce tax strategies and talking to a lawyer to learn more about their legal options.
Talk To A Grapevine Divorce Lawyer To Learn More
You do not have to go through a gray divorce alone. Our Grapevine family law attorneys at Teller Law Firm can help you through the divorce process every step of the way. Call our firm today at 817-612-4298 or send us a message online to get started.