It is true that divorce is declining across the United States, but the rates of gray divorce are increasing. Gray divorces are those that occur when a person is over the age of 50. When considering divorce as a person gets older, many think that it is going to be simpler. After all, there often are not issues such as child custody or child support to consider.
However, there are other issues to think about in gray divorce, and these issues do not come up with other types of divorces. Two main issues, in fact, are more present in gray divorces than any other. Those factors are spousal maintenance and retirement accounts.
Many divorces in Illinois do not involve alimony or, as the state refers to it, spousal maintenance. Maintenance is typically only awarded when the divorce is going to leave one spouse at a significant financial disadvantage. For example, if one parent stays at home to raise the children while the other advances their career, the courts will likely award the stay-at-home parent spousal maintenance so the stay-at-home parent is not left in financial hardship after the divorce. When maintenance is awarded under these circumstances, it is typically just temporary....