What are the pros and cons of gray divorce?
What are the pros and cons of gray divorce?
There are pros and cons to both the traditional divorce process and the gray divorce option. While a gray divorce can result in a larger asset pool and a smaller division of debt, it can also lead to increased animosity between the spouses. Another disadvantage is that it is often difficult to determine what belongs to each spouse in terms of community property. This can lead some spouses to hide assets or give false information about their assets, which can result in civil and criminal penalties.
In recent years, the number of gray divorces has increased due to the aging population. The majority of gray divorces occur in older couples. However, the stigma associated with divorce has been reduced. Additionally, couples may have significant debt, which could cause stress in their marriage and cause an increased likelihood of divorce.
The advantage of gray divorce is that it may be easier to reunite after a divorce than a traditional divorce. However, the downside of a gray divorce is that a gray divorce has a high risk of being financially devastating. There are also more issues associated with property division. Older couples may be less financially stable compared to their first marriages.
If you have any questions or need a Divorce Attorney, please call this law firm for a free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
