Statistics show that baby boomers are divorcing at an astonishing rate. Often referred to as the “gray divorce” phenomenon, many couples are opting to end their marriages over the age of fifty. In fact, according to findings by the Pew Research Center, the rate of divorce for those aged sixty-five and older had tripled between 1990 and 2015.
There can be many reasons why a couple chooses to divorce later in life after many years of marriage. Perhaps the couple drifted apart over the years, or decided there was no purpose in continuing an unhappy marriage after their children were grown. Other reasons may include different philosophies concerning how to spend retirement, or simply the realization that they do not wish to spend the rest of their lives in an unhappy situation. In these situations, divorce may be seen as the beginning of a new chapter in life.
Regardless of the reason a senior couple may be divorcing, divorce at retirement age presents its own unique considerations separate and apart from those of younger divorcing couples. For example, the financial implications may be quite different, and more property may have been accumulated over the course of a long marriage. In addition, the division of pension and retirement accounts may be more complex. Although a senior couple most likely would not be facing issues as to child custody and visitation, there may be a pet custody dispute, or other issues to be resolved.
Divorce is a stressful and emotionally draining situation, and emotions can be amplified if you are deciding to end a marriage that lasted for several decades. If you have been in a long marriage and are considering divorce, it is best to speak with an attorney who can guide you through the difficult time and advise you as to the legal and financial implications involved.
The Law Office of Jessica M. Semins understands that every divorce is unique and handles each case with the attention and compassion it deserves. Call to schedule a consultation at (646) 397-6844.
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