Three Benefits Of A Mediated Divorce You Should Know If You Are Part Of The “Gray Divorce” Trend

Currently "gray divorces" or divorces among those age 50 or higher, are increasing. From 1990 to 2015, divorce among those over the age of 50 has increased by over 109 percent. If you have found yourself in this boat, you may be debating between trying to mediate the divorce, a collaborative divorce and a litigated divorce. For this age group, there are many benefits to a mediated divorce. Learning about these benefits may help you see why it may be beneficial in your situation. Here are a few of the benefits. 

A Mediated Divorce Is Cheaper

One of the major benefits to getting a mediated divorce is that it is significantly cheaper than a litigated divorce. There are many variables that determine how much your mediated versus litigated divorce will cost, including filing fees in the county you live, the cost of mediators versus attorneys, and how many hours of mediation versus court time you have. However, the approximated cost of mediation ranges from $500 to $2500. The approximate cost of litigation is $32,000. This is extremely important as you may be looking to retire soon or are already retiring. As such, your income takes a huge hit when you retire and when you divorce. Most getting a divorce at this stage in life cannot afford costly litigation as well. 

You Get the Things That Are Most Important to You 

Another benefit to mediation is that you are able to get the things that are most important to you. Those who are part of the "gray divorce" trend have typically been married over a decade. During this time, you and your spouse have likely built a life together and acquired many items. Some of these items may be valuable, while others may hold significant sentimental value. Getting divorced is stressful. But being able to negotiate for the items that mean the most to you, rather than letting a judge decides who gets what, can help reduce some of your stress, which may be important to your health at this stage in your life. 

A Mediated Divorce is Faster

The length of time that a mediated versus litigated divorce takes varies based on many factors. Some counties have no waiting period for granting divorces, while others have up to a year waiting period. Some counties are backed up on litigated divorces and others are not. And some couples are able to mediate in one day and settle everything, while other couples may go back and forth in court for a couple of years before everything is tied up. However, as a general rule of thumb, mediating a divorce is faster than litigating one. And this is important at your stage in life. You want to spend what life you have left being happy, not going in and out of court. 

If you are looking to get divorced, a family law attorney can help you with mediated, collaborative and litigated divorces. Contact one today for a consultation and to learn what the best route for your divorce may be.