LS | Lisa Stern
Virtual Consultations Available | 248-973-7842
  • Home
  • About
    • Lisa D. Stern
  • Practice Areas
    • Divorce
    • Child Custody
    • Child Support
    • Second Family Adoption
    • Red Flag Laws
  • Blog
  • Articles
  • Contact
LS | Lisa Stern
  • Home
  • About
    • Lisa D. Stern
  • Practice Areas
    • Divorce
    • Child Custody
    • Child Support
    • Second Family Adoption
    • Red Flag Laws
  • Blog
  • Articles
  • Contact
Email

CALL

Lisa D. Stern

Over 30 YearsOf Serving Families In Michigan

  1. Home
  2.  » 
  3. Divorce
  4.  » 
  5. Financial Considerations in a Gray Divorce

Financial Considerations in a Gray Divorce

On Behalf of Lisa D. Stern | Jun 30, 2020 | Divorce |

Since the 1990’s, statistics show that the rate of gray divorce within the United States has more than doubled.  If you are unaware of what a gray divorce is, it is one between a couple who is in their 50’s or older.  These divorces often carry many more possible financial consequences that does a divorce between a younger couple who have not has a much time to build retirement or other accounts.

Retirement is one of the most important consideration in a gray divorce.  For spouses who are already drawing retirement, or are close to reaching retirement age, there is not time left to build up enough funds to live off of again should they lose that retirement in a divorce. This is why it is important to retain the services of an attorney who is experienced in handling Michigan divorces that address such matters.

Michigan law requires that a document called a Qualified Domestic Relations Order be filed in any divorce in which retirement funds are at stake.  This will be the legal document, issued by the court, that will instruct the administrators of a retirement on who to disburse funds to post divorce.  It is very important that this form be completed fully and correctly.  Therefore, it is highly advised that it be done by an expert.

A Judge will consider factors within a gray divorce such as the comparability of the amount of retirement each spouse is receiving or will receive, as well as the financial contributions each made to the marriage throughout the years.  There are also specific rules developed by the IRS to prevent parties from being penalized fore retirement disbursements.  These are all complex matters that should never be attempted to navigate alone.  Doing so could result in irreparable financial consequences.

Recent Posts

  • What happens to deferred compensation during a divorce?
  • What Do I Do If My Ex Stops Paying Child Support?
  • Is There An Advantage To Filing For Divorce First In Michigan?
  • How To Get Sole Custody In Michigan
  • Do You Still Pay Child Support With 50/50 Custody?

Archives

Categories

  • Adoption
  • Child Custody
  • Child Support
  • Divorce
  • Fathers' Rights
  • Firm News
  • modifications
  • parental relocation
  • parental rights
  • Same-sex Marriage
  • Uncategorized
  • Visitation

RSS Feed

Subscribe To This Blog’s Feed

The Experience You Need. The Compassion You Deserve.

Contact Lisa For Help Today

LS | Lisa Stern

Bloomfield Hills Office

1760 South Telegraph Road
Suite 300
Bloomfield Hills, MI 48302


Bloomfield Hills law office

Detroit Office

Penobscot Building
645 Griswold St.

Suite 2200
Detroit, MI 48226



Detroit law office

Phone Number

248-973-7842
  • Follow
  • Follow
  • Follow
Review The Firm

© 2025 Lisa D. Stern • All Rights Reserved

Disclaimer | Site Map | Privacy Policy | Business Development Solutions by FindLaw

Review The Firm