An increasing number of couples are divorcing after the age of 50. Divorcing later in life, or after a lengthy marriage of often more than 30 years is being called “silver divorce” or “gray divorce” on social media. According to the National Center for Family and Marriage Research, the number of couples divorcing after 50 has doubled in the U.S. since 1990. There can be many reasons for a split this late in life, when others who know the couple assume that they are on solid ground. One reason can be the lack of child rearing responsibilities; the couple may feel like they no longer “need” to stay together “for the children.” They may also be faced with spare time after retirement, and for the first time in years take enough time together to realize that they do not have anything in common. Other couples cite a need to pursue their goals and dreams individually, as they understand that this is the second half of their lives and the time to do these things is now. In addition, people are living longer, and some may come to realize that they do not want to spend the next 30 to 40 years of their lives in an unhappy union. Regardless of reason, a divorce later in life has unique obstacles that need to be considered. Assets that have been built up during the marriage, retirement accounts from many years of work, and investments managed jointly over the years need to be distributed. The feelings of adult children and grandchildren, who may have come to see the marriage as a model, still need to be considered. In her New York Times article from 2015, Abby Ellin highlights the lives of women following their silver divorces. To read more, go to: https://www.nytimes.com/2015/10/31/your-money/after-full-lives-together-more-older-couples-are-divorcing.html?_r=0
If you need to discuss your later in life divorce, the lawyers at Parra Harris Law are here to help. For insight and consultation, contact: [email protected] or 904-900-1617
