Making the decision to end a marriage is a complex choice, especially for individuals who are nearing retirement age. Divorce is a complicated process, even when the two parties are amicable, but it can especially difficult for those who are nearing retirement age. Gray divorce, a term used for divorces involving adults age 50 and up, are becoming more popular in Mississippi and across the United States.
Important issues in a gray divorce
The financial impacts of a gray divorce can be significant for someone who is planning to retire in the near future. The division of marital assets can affect retirement savings, and some long-term plans may require adjustment. Gray divorce is increasingly common, with statistics indicating that the number of divorces for couples over the age of 50 has doubled in the last 20 years.
This trend could be related to longer lifespans and the likelihood that adults will continue to work even past retirement age. Women are more likely to be financially independent, and they may not feel obligated to stay in an unhappy marriage simply for convenience. Regardless of why, anyone considering gray divorce would be wise to pursue terms that will allow him or her financial stability long-term.
The future starts now
The terms of a final divorce order matter, especially for a Mississippi adult looking ahead at retirement. It is possible to secure terms that will provide one with security and peace of mind. It may be helpful to work with an attorney who can help one make practical decisions that will make sense well into the future.