As the baby boomer generation ages, it expands its search for individuality and satisfaction into the senior years. This generational tendency, along with longer life spans, is leading to a boom in divorce over age 50 often termed gray divorce.
Earlier this year a study from Bowling Green University yielded interesting facts about divorce trends in the United State, including the following:
Between 1990 and 2010, the divorce rate for persons over age 50 doubled.
As of 2010, divorce happens to one out of four people over 50.
The divorce rate of remarriages is 2.5 percent higher than the divorce rate of first marriages.
For anyone in an unsatisfying marriage relationship, divorce should be considered an option. But for those in middle age or at retirement, the landscape of divorce is very different than for someone who is 20 or even 30.
Deciding to divorce at mid-life or older raises concerns, such as:
Divorce at an older age allows less time to rebuild retirement monies. A low-conflict, low-expense divorce preserves wealth needed by both parties to enjoy their golden years — apart.
Changes to lifestyle and monies available for retirement can be harsh on older people, leading to adjustment to a reduced quality of life and prolonging the time until retirement.
In addition to living longer, divorce decisions are fueled by the desire to pursue love, true companionship and intimacy, regardless of advanced years.
Divorce over 50 requires careful attention to your estate and personal vision of the future. If considering separation, speak to an experienced divorce attorney in New York to manage becoming single — successfully.
