Over the past twenty years, the number of divorces among boomer-aged adults has doubled, with one in four marriages among people in that age group ending in divorce. What was once an unthinkable taboo has become more socially acceptable in recent years and many older adults are choosing to live their golden years on their own.
Once their children are out of the nest, it may make sense for some couples to part ways. This trend has been dubbed “grey divorce” and it has illuminated a number of factors that affect older adults uniquely in the divorce process.
For example, older adults may have spent decades building a life together, which can lead to complications during property division in divorce. If you and your spouse own a house together and have life insurance, retirement or pension plans, dividing up assets can be a cumbersome process.
In addition, it is important to think about what it will be like to live on your own – both financially and personally. Divorce can take an emotional toll and it is important to be prepared for those feelings. Consider building a support network of loved ones whom you trust. Their support can be invaluable.
If you are considering a divorce, particularly as an older adult, it is important to work with someone who understands the law as it relates to your assets and your financial future. Consider working with an experienced family law attorney who can help you protect your interests and start your new life off on the right foot.
Source: The Huffington Post, “Are You Too Old to Get a Divorce?” Ann Blumenthal Jacobs, May 30, 2012