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TX divorce lawyerWhen we think about “gray divorce” in Austin, Texas, we often consider studies that suggest older adults will face more financial difficulties if they decide to file for divorce. However, it is not as common to consider gray divorce in the context of a high asset or high net worth divorce. If a couple has accumulated substantial assets during the marriage and has multi-million dollar investments, does gray divorce really pose the same types of financial risks as a gray divorce involving a middle-class couple? We want to explore some of the financial issues that are common in gray divorces and to consider them in relation to high net worth couples in Texas.

If you are planning for a divorce after a long-term marriage, you should know that a Texas high asset divorce attorney at Powers and Kerr, PLLC can help.

Common Financial Issues in a Gray Divorce

If you have read anything about gray divorce recently, you probably know that much of the research suggests that older couples who get divorced will experience some financial difficulties. To be sure, gray divorce can be particularly hazardous to your emotional and financial health, far worse than doing so at younger ages. For many people, divorce after age 50 is a major financial shock.

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Texas high-asset divorce attorney, Texas complex litigation lawyer, complex property negotiations,The marriage dissolution rate for these couples has doubled in the last twenty years. These "gray divorce" matters are often the epitome of a high-asset divorce. While there may be no complex child custody issues to resolve, the property division can be a Gordian Knot of separate assets, community assets, and commingled assets.

Aging baby boomers were the first demographic group to divorce in significant numbers. Many of these people are now in their second or subsequent marriage, and the fact that the divorce rate is significantly higher in these relationships may partially explain the gray divorce phenomenon. In one study, the authors pointed to unique later-in-life issues — such as the empty nest syndrome, declining physical health, and ailing parents — which can put added strain on a relationship.

The study predicted that gray divorce would increase even if the overall divorce rate remained flat, due to the aging American population.

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