“Gray divorces” can present some challenging legal situations.
Divorces by senior citizens can create challenges of dividing up a lifetime of accumulated marital property as well as the likely requirement of a new estate plan, according to the Indiana Lawyer in "Rise in divorces among older couples presents unique family law issues."
The big issue in estate planning is that plans are often already in place for the couple's estates.
These plans are normally drafted in unison with the understanding that when the first spouse passes away, the surviving spouse will receive the bulk of the estate. When the second spouse passes away, then the estate will go to the agreed upon heirs.
These plans need to be undone when the couple divorces. This can be difficult to do, unless estate planning attorneys are hired who have the expertise to wrap up legal entities that are no longer needed and might be a hindrance.
An estate planning attorney can guide you in creating an estate plan that fits your changed circumstances, which may include a divorce.
Reference: Indiana Lawyer (July 26, 2017) "Rise in divorces among older couples presents unique family law issues."
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