Are you over the age of 50 and considering divorce in Albuquerque, New Mexico? You’re not alone. In recent years, there has been a significant rise in what is known as “gray divorce,” the dissolution of marriages involving couples in their 50’s and beyond.
Gray divorce can be caused by a variety of factors, from empty nest syndrome to financial disagreements. At times, infidelity also plays a starring role in the process.
Understanding the rise of gray divorce is important as it has far-reaching consequences in New Mexico. Are you considering a gray divorce yourself or simply curious about this growing trend? Either way, let’s explore the reasons, implications, and impact of divorces later in life.
REASONS FOR THE RISE OF GRAY DIVORCE IN ALBUQUERQUE, NM
Gray divorce can be caused by a variety of factors. One significant factor contributing to gray divorce is the empty nest syndrome. After years of focusing on raising children, couples may find that they have grown apart and no longer have a shared purpose. The absence of children in the home can lead to a reevaluation of the relationship. At times, this reevaluation can lead to divorce.
Another common reason for gray divorce is financial disagreements. As individuals approach retirement age, financial stability becomes a primary concern. Couples may realize that they have different views on spending, saving, and investing. These different views may cause friction and discord within the relationship.
Over time, financial disagreements can gradually create cracks in the marriage’s foundation, ultimately leading to divorce.
Infidelity is another factor that can contribute to gray divorce. With increased life expectancy and improved overall health, individuals may feel a renewed sense of vitality and seek excitement outside of their marriage.
The discovery of an affair can be devastating and often leads to the breakdown of trust and the decision to end the relationship.
IMPACT OF GRAY DIVORCE ON NEW MEXICANS
Gray divorce can have a significant impact on individuals going through the tumultuous process. One major consequence is the emotional toll that an Albuquerque divorce takes on both spouses.
After spending decades together, the decision to separate can be emotionally challenging and may lead to feelings of grief and loss. In turn, these feelings may create an uncertain future. Individuals may also experience a sense of loneliness and social isolation. This is especially true if the home was specialized, with one spouse relying heavily on their spouse.
Financial implications are another significant concern for individuals experiencing gray divorce. Dividing assets accumulated over a lifetime can be complex. Moreover, splitting assets may result in a significant reduction in financial security for both parties.
Check out this insightful video about how community property/assets and debts are divided in New Mexico.
Under New Mexico divorce law, retirement plans may need to be divided by the appropriate QDRO. Consequently, individuals may need to reassess their financial goals and make necessary lifestyle changes to adapt to their new financial reality.
In addition to emotional and financial impact, gray divorce can also have physical health consequences. Research has shown that divorce, particularly in later life, is associated with higher rates of depression and stress-related health issues.
Therefore, the stress of divorce coupled with the challenges of adapting to a new lifestyle can significantly reduce one’s sense of happiness and well-being.
IMPLICATIONS OF GRAY DIVORCE ON FAMILIES
Unquestionably, gray divorce significantly impacts the spouses involved. However, divorce later in life can also profoundly influence adult children and extended family members.
For example, adult children may struggle to come to terms with their parents’ divorce. This can be especially true if adult children assumed their parents’ relationship was stable. Moreover, divorce can disrupt established family dynamics and may lead to strained relationships between adult children and their parents.
In some situations, adult children may side with one parent. For example, infidelity may cause the children to develop deep seated issues with a parent considered responsible for the legal separation or divorce.
Grandchildren can also be impacted by gray divorce. Sadly, the marriage’s breakdown may impact the grandchildren’s ability to spend time with both grandparents. The loss of a stable family unit can be particularly challenging for grandchildren that require additional family support and resources.
Extended family members, such as siblings and close relatives, may also be affected by gray divorce. The division of loyalties and potential conflicts that arise from supporting one party over the other can strain relationships within the extended family.
In other words, gray divorce may cause a division between the family. When this occurs, family traditions and celebrations can be radically changed.
FINANCIAL CONSIDERATIONS IN GRAY DIVORCE
Gray divorce can have substantial financial implications for both individuals involved. The division of assets and debts accumulated over a lifetime can be complex. Consequently, these interwoven finances may require the assistance of an 11-706 financial expert to assist the court.
In New Mexico, an 11-706 financial expert may be necessary during divorce to assist the court with:
- Calculating the community’s interest in a retirement account or PERA;
- Determining the community’s interests in separate property;
- Valuing a family business; or
- Appraising a home.
In addition to asset division, spousal support/alimony may come into play in gray divorce cases. The financial circumstances of each party, the length of the marriage, and other factors will be considered when determining spousal support.
In New Mexico, marriages over 20 years may result in lifetime alimony. Therefore, gray divorces commonly involve the potential for lifetime alimony.
Check out this informative video for more information on how spousal support/alimony is calculated in Albuquerque, New Mexico.
LEGAL ASPECTS OF GRAY DIVORCE
Gray divorce often involves unique legal considerations that differ from divorces at a younger age. Issues such as retirement accounts, pensions, and healthcare coverage become critical during the divorce process.
In addition to property division and spousal support, gray divorce may also involve the division of debts, such as mortgages, loans, and credit card debt. Understanding the legal obligations and potential consequences of these financial obligations is essential to avoid future financial hardship.
Based on these considerations, it is crucial to work with a highly experienced Albuquerque divorce attorney that understands the nuances of complex divorce issues. Call (505) SANCHEZ and talk with one of Albuquerque’s best divorce attorneys.
EMOTIONAL AND PSYCHOLOGICAL CHALLENGES
At times, the emotional challenges of gray divorce can be overwhelming. After spending many years together, individuals may find it difficult to navigate the emotional landscape of separation and divorce. Feelings of grief, anger, and betrayal are common.
In turn, these feelings can generate a sense of uncertainty about the future.
Seeking professional support, such as an Albuquerque therapist or counselor, can be instrumental in helping individuals cope with the emotional challenges of gray divorce. Therapists can provide guidance and support as individuals work through their feelings, develop coping strategies, and rebuild their lives.
THE CHANGING LANDSCAPE OF DIVORCE IN THE AGING POPULATION
The rise of gray divorce has become a significant societal trend. In turn, this trend has created far-reaching implications for individuals, families, and communities.
Empty nest syndrome, financial disagreements, and infidelity are just a few of the reasons contributing to the increase in gray divorce in Albuquerque, New Mexico.
It is crucial for individuals considering a gray divorce in Albuquerque to understand how community assets and debts are divided. Moreover, it is critical for both spouses to understand New Mexico’s laws regarding spousal support/alimony.
Armed with this information, spouses facing a gray divorce are better equipped to take the harrowing journey towards divorce.
Are you facing a gray divorce in Albuquerque, New Mexico? If so, are you looking for an affordable divorce lawyer in Albuquerque that is local, experienced, and reliable?
Look no further.
Sanchez Legal Team routinely handles uncontested divorces in Albuquerque, New Mexico. Moreover, our team of highly experienced legal professionals can handle your grandparent visitation rights, grandparent guardianship case, or restraining order of protection matter.
Call (505) SANCHEZ and speak with an aggressive and top-rated New Mexico family law and divorce attorney.
