Are you at risk of a gray divorce?

Over the last few decades, there has been a new trend in divorce. In the early 90s, only 10% of the people over age 50 were divorced. Now that number has risen to 25% in a trend that is commonly known as gray divorce. Some believe that the acceptance of divorce in society is making it a more palatable option than it previously was.

If you have been married for a long time and decide to split, it can be especially financially and emotionally traumatic. It is likely that you have raised children together, have joint retirement and insurance accounts and that one spouse relies on the other for financial support.

Gray divorce can be caused by any number of things, but reasons people commonly cite include:

  • Growing apart: This is a term used in many ways, but the reality is that many people learn they have nothing in common once the job of raising kids is done.
  • Financial management: Financial issues are commonly cited in divorce cases, but long periods of overwhelming debt can make it seem easier to just end the relationship.
  • Infidelity: As divorce has become more accepted, so has cheating. Many older people find it easy to meet new people with similar interests through dating sites or apps.
  • Life expectancy: As medical care and technology have advanced, the life expectancy of the average person has increased. With more life left to live, many people in their later years are more inclined to make a big life change if they’re unhappy.

You have many good years left to live, and you’ve decided the best way to spend them is without your spouse. There are many implications of separating your intertwined lives after so many years. An experienced family law attorney can help walk you through the process.

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