In recent years, the U.S. has experienced a trend toward the increase of "late life" or "grey divorce"; both terms referring to divorces involving those in their fifties or older. Many of the typical issues faced by separating and divorcing couples take on a unique, or even more urgent, character when faced by those in "grey divorces", including:
- Limited time to earn; create assets; increase existing assets;
- Support/cash flow during retirement;
- Maintaining the current home/use of reverse mortgages;
- Required distributions from retirement assets;
- Maximizing Social Security benefits;
- Difficulty obtaining medical insurance coverage/transition to Medicare;
- Custody and support issues involving adult disabled children and grandchildren.
Mediation and Collaborative Practice are particularly suited to the resolution of the unique issues facing those in "grey divorces", without the devastating financial and emotional toll of litigation. Mediation and Collaborative Practice allow parties to create an amicable resolution, designed especially to meet their individual needs and goals.