Gray Divorce Isn’t Just Emotional, It’s Financially Risky

Gray Divorce Isn’t Just Emotional, It’s Financially Risky

Gray Divorce and Retirement: What the Allianz Study Means for Your Future

A new study by Allianz Life shows that one in three Americans aged 61-75 who have been divorced say it negatively affected their retirement security. And the trend of gray divorce (divorcing later in life) is only growing.
The study highlights a growing concern in family law and financial planning: the impact of divorce on retirement security. As more Americans over age 60 choose to end their marriages, the long-term consequences are becoming harder to ignore.
Keep reading for my four key findings from the study:

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Holidays Can Mean Waiting To Divorce

This holiday season, you are thinking: “Just one more time.” One more time around your mother-in-law’s nasty snide comments; one more draining day of yule-tide “merriment”; and one last New Year’s hurrah. After the confetti settles, the weight of the relationship will be too much. In fact, the stress could do you in. So you will say “never again,” and spend the next year (or more) getting divorced. And you are not alone.

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Alternative Dispute Resolution Panel Discussion

On December 2, 2020, Yours Truly will be speaking on a panel, hosted by NAM and the Queens County Bar, called “ADR in Divorce: Fast-Tracking Resolutions.”

Join us and get complimentary continuing legal education credit.

Register here. With the Court process slowed down due to Covid-19 and budget cuts, one fast and easy way to resolving divorces can be found in Alternative Dispute Resolution methods like mediation and arbitration. I will be speaking along with a retired Judge and several other New York practitioners about the basics of divorce mediation and how it may help practitioners resolve cases more quickly during these troubled times.

Interview: Business Insider

Divorce court is normally quiet during the holiday season, but this year it’s booming as the pandemic drives couples apart.

Photo by cottonbro on Pexels.com
  • Divorce lawyers told Insider the nature of the pandemic has led to feelings of desperation and contempt and pushed couples to ignore previous holiday niceties.

I spoke with Business Insider about the continued high rates in divorce when in most years there is a holiday lull; but 2020 is giving no breaks as the rate continues to soar:

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