Behind the increase in gray divorce in the United States

On behalf of South Tampa Law Group on Wednesday, May 23, 2018.

As many Florida readers know, the divorce rate for older Americans has rapidly increased over the last decades. There are many reasons why this specific demographic is experiencing a higher rate of divorce, and the statistics may surprise you. If you are considering divorce at an older age, careful preparation can be beneficial.

When a couple chooses to divorce later in life, it can have a significant financial impact. Whether the couple has been married for decades or it is a second or third marriage, it is beneficial to consider the impact of ending a marriage near retirement age. With guidance, you can seek a positive and stable financial post-divorce future.

Facts about gray divorce

A “gray divorce” is a term many people use to describe what happens when a couple over the age of 50 divorces. Despite the divorce rate in many other demographics stabilizing, there has been a sharp increase in divorce for the baby boomer demographic. Consider the following facts about gray divorce:

Approximately one in four divorces is a gray divorce.
Reasons for the increase in divorce for older Americans is that there are more people in this age group than ever before, and life expectancy is longer than it was even a few decades ago.
Some of the many reasons for gray divorce can stem from deep-rooted resentment and issues over raising children, money management and plans for the future.

Regardless of the reason why you may be pursuing a gray divorce, it is beneficial for you to consider how to pursue a final order that allows you to have a strong and stable future.

After the end of a decades-long marriage or during a divorce close to retirement, it is smart to be very specific about your financial goals. You would be wise to carefully consider your retirement goals and your plans for your golden years as you negotiate and seek positive final order.

A brighter future is available

Ending a marriage is a difficult and emotional process, no matter how old you are or how long you were married. If you have concerns about the impact of a gray divorce, you might find it beneficial to seek a complete evaluation of your case and explanation of the potential legal options available to you.

With careful consideration of your options, you can purposefully pursue a final order that is fair, reasonable and provides you with stability for years to come.