I was recently interviewed for an article written by Caryn Brooks for Reuters. The article, titled “Gray Divorce: The Question of Alimony” seeks to understand what if any difference there might be in decision-making regarding Alimony and Spousal Support in Gray Divorces.
Gray Divorce refers loosely to the dissolution of marriages when the parties are over the age of 55. I make no judgments as to whether a certain age makes a divorcee old. I do however believe there are many financial complications and intricacies to the dissolution of marriage at a later stage in life. I will review many of these issues, concerns and questions in detail over coming months in my Gray Divorce series.
The Reuters article quotes a Massachusetts attorney, Garbrielle Clemens, who shared the story of two of her clients “forgoing alimony in order to front-load money in case their ex-spouse can’t come up with the payments down the line”. Click on the link above to learn a little about my opinion regarding the front loading and/or buy-out of Spousal Support in long term marriages ending in Gray Divorce as well as some practical thoughts when considering it as an option.