Portland Divorce Lawyer: Difficulties of a Gray Hair Divorce

Gray divorces are becoming more and more common in Oregon. While divorces have been on the rise, a number of the dissolutions occurring are for parties that are in their 50’s. As individuals are living longer, they are more and more less willing to stay in a bad relationship during their later years in life.  Instead, they look to start new life’s alone or with a new partner. A divorce that occurs later in life often comes on the heels of a marriage that was for at least ten years and where the parties have had the chance to accumulate a great deal of assets. Because of the unique issues relating to a divorce at the age of 50 and above, it is best to contact a Portland Divorce Lawyer experienced with handling these types of dissolutions.

Portland Divorce Lawyer on Dividing Assets

No matter what the age of the parties, the same standards apply in Oregon relating to the divorce. Ultimately, the goal is equitable distribution of property/debts. However, when the individuals getting divorced have been together for a significant amount of time, the equitable distribution of property becomes more difficult. At this point in one’s life, two of the largest possessions a couple likely owns is their 401(k)s and their home. At first, it may seem reasonable to one party to take the home and the other to take the 401(k)s. However, without first understanding the true value of your home and the tax implications associated with the sale of either the home or when taking cash out of the retirement accounts, the value may be over or understated of each. A Portland Divorce Lawyer will be able to help assess the value of each, ensuring you are making an informed decision before any settlement.

Other items that need to be considered during a long-term marriage divorce include:

-Alimony (spousal support)

– Grandparent rights

– Business interests

– Inheritance matters

– Life Insurance Policies

– Estate Planning

If you are seeking a divorce after many years of marriage, contact a Portland Divorce Lawyer at Gzik Law, PC. The attorneys at Gzik Law, PC are experienced handling these complicated divorces. You can be sure you are going to get sound advice.