If you look at the overall divorce rate during the last two decades in the United States, it has declined. However, “gray divorce” is on the rise. For instance, many Baby Boomers are getting divorced at a higher rate than younger generations. The divorce rate for those who are over 65 has tripled since the 1990s, for example, and it has doubled for gray divorce in general – couples who are at least 50 years old.
These statistics make it clear that older couples have a much higher chance of divorce than younger couples, but why is this? There are numerous reasons to consider.
Changing perspectives
For one thing, many older couples got married at a time in which divorce was seen as taboo and there was a negative social stigma. This doesn’t really apply to younger couples, as cultural perceptions of divorce have changed. Some older couples may have wanted to get divorced for years or even decades, but they are only now doing so.
Changing lives
Another thing to remember is that couples may be going through major life changes at this time. One of the most common is that their children move out of the house and they become empty nesters. Some couples intentionally wait until the children have moved out of the house to get divorced.
This could become more complicated
Regardless of why gray divorce occurs, there are some potential complexities. What does it mean for Social Security benefits? What does it mean for retirement accounts or pension plans? How do they split up complex assets at this advanced stage in life? If you find yourself moving toward divorce, it’s very important to understand exactly what legal steps to take.
