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Property division and the financial implications of gray divorce

When a Florida couple decides that it is appropriate to end their marriage, there are certain consequences that come with that decision. The financial implications that come with a gray divorce are significant, and an older individual will want to be diligent about protecting his or her long-term interests during the property division process. Gray divorce, which is a divorce between two people age 50 and up, is on the rise.

People are living longer than ever, and social perception of divorce is different than it was in the past. This may be a significant factor in the growing number of gray divorces. Regardless of why they are happening, these divorces bring significant financial changes to both parties. As they are closer to retirement, there is less time for them to recover, rebuild savings and maintain the same lifestyle.

In a gray divorce, it is important for a person to address the issues of alimony, property division and all finances carefully and thoughtfully. The terms of a final order will impact a person for years, perhaps even affecting retirement plans. A Florida reader would be wise to keep his or her focus on what will be best long-term. 

Whether it is in litigation or around the negotiating table, it's easy to allow temporary emotions to drive the decision-making process. Often, this leads to decisions that are not actually beneficial or practical long term. Seeking a fair and sustainable property division agreement is a critical component of a strong and stable future after a gray divorce. Before agreeing to terms, a person may want to seek counsel regarding his or her legal options.

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