Gray Divorce – Legal Nuances for Seniors to Consider before Filing for Divorce

gray divorce senior

The financial implications for older couples, including the division of assets, health insurance issues, and disparities in post-divorce wealth.

gray divorceFor those of you who follow my blog, you know that I am a big fan of following and studying statistics. “Gray divorce ” is a term that applies to couples who divorce at an older age. “Gray divorces” are on the increase. I have posted about them previously from as far back as 2015.

Here are links to some of those prior Gray divorce blogs:

Key data on the rising rates of gray divorce, including insights from Susan Brown’s study.

While the divorce rate for younger couples is on the decline, since 1990 the divorce rate has doubled for couples over 55, and tripled for those over 65. Susan Brown, a sociology professor at Bowling Green State University and co-director of Bowling Green State University’s National Center for Family and Marriage, conducted an ongoing study of older couples getting divorced. She … Read More... “Gray Divorce – Legal Nuances for Seniors to Consider before Filing for Divorce”

Gray Divorce – Refocusing and Obtaining Experienced Legal Advice

gray divorce

Securing A Divorce Lawyer For Experienced Gray Divorce Advice

Extended Mortality Rates and Financial Independence Has Led to Dramatic Rise in ‘Gray Divorce’ Over the Last Decade

gray divorceThe number of “gray divorces” has increased dramatically over the last 10 years. These are divorces between couples over age 50 and often in a long-term marriage. Here is a link to read the first blog post I wrote about it in 2015. This increase certainly may have been influenced by the extended mortality rates, societal shifts with less stigma regarding divorcing, as well as women becoming more independent financially.

When I talk with folks who fall into this category, I hear similar explanations why they want to end their long-term marriage. Often, I hear that they stayed together primarily for the sake of their minor children. Now that they are “empty nesters” they feel “free” to move on with their life and focus on their own wants. The other reason I hear often is that the 2 have simply grown apart and really aren’t in love any more or that they were just going through the business/motions of a marriage because “that is what you do.”

In further discussion, it seems that … Read More... “Gray Divorce – Refocusing and Obtaining Experienced Legal Advice”

Gray Divorce Rates Continue to Rise!

gray divorce

Rate Of “Gray Divorce” More Than Doubled For Couples Age 50 And Over

gray divorceWhen it comes to divorce, could gray be the new black? The divorce rate in the United States of couples age 50 and over has more than doubled. According to research conducted by I-Fen Lin and Susan Brown, in 1990 1 out of 10 people that went through a divorce was over 50 years or older. Presently 1 in 4 people who get divorced fall into the age bracket of 50 or over. The research showed that gray divorces aren’t just for older couples who have been married previously. In fact greater than half of gray divorces are with husbands and wives who have been married 20 years of more.

Tipper and Al Gore are a classic example of a gray marriage. Married for 40 years, and with 4 children, they had grown apart and decided to part ways. According to Tipper, there was no abuse or infidelity. Their marriage no longer brought them joy and they felt they were better apart.  Like the Gores, today people are just not willing to put up with a loveless marriage and expect more of a sense of fulfillment … Read More... “Gray Divorce Rates Continue to Rise!”

Gray Divorce: Division of Retirement Assets Disparity

Be Sure To Hire A Divorce Attorney With Experience In “Gray Divorce” Cases

gray divorce divisionAn interesting article published in the Arkansas Business Journal discussed the issue of divorce with retirement age individuals.  As a founding member of the International Academy of Attorneys for Divorce Over 50, I personally am quite familiar with the unique issues that often arise in these “gray divorce” cases. When discussing the financial background of many couples aged 50-60, the typical equal asset allocation can be problematic.

These couples are more likely to have combined their retirement planning and savings. Over the past 5 generations, the workplace demographics have shifted.  Often, many couples who marry today both pursue a career path and develop their own separate retirement accounts.  In the 1950’s and 1960’s, married couples often relied financially on the men in the relationship to be the primary “breadwinner”.  This means that when a retirement account is discovered during the divorce process, and it’s distributed equally, each party will be left with 50% of their retirement assets even though they are often only a few years away from retirement.  Fair, right? Maybe not.

Let’s consider this scenario of Mary and John.  Mary and John … Read More... “Gray Divorce: Division of Retirement Assets Disparity”