Sometimes after decades of marriage to one person, and often in a second or subsequent marriage, older Americans in their 50s, 60s, 70s and even beyond are divorcing at increasing rates. No longer seeing divorce as embarrassing or shameful, as the baby boomers enter the oldest generation, they bring with them the more relaxed social attitudes of their youths.
The American Academy of Matrimonial Lawyers or AAML conducted a member survey on the topic of “gray divorce.” Results were released in June 2013:
Reuters cites Alton Abramowitz, AAML immediate past president, as pointing to these important factors:
The phenomena of gray divorce is discussed widely in the press and another factor often mentioned is that women are more economically and professionally secure than in past generations and able to support themselves after divorce.
A frequently cited study on the topic is one by sociology professors at Bowling Green State University from 2009. After reviewing two decades of census data, the study’s authors announced that for people who divorced in 1990, less than one-tenth were at least 50, but in 2008, that number had grown to more than one-quarter. This study also made much of the fact that many baby boomers are in remarriages, unions more likely to end in divorce, which will likely accelerate the divorce rate even more among older Americans.
People who divorce after 50 need to focus on their financial and personal security as they age. Sometimes this can be a struggle in divorce negotiations as couples stretch to make marital assets that were supposed to provide for one household in retirement instead pay for two separate households. That the AAML survey cites spousal maintenance, business interests and retirement assets as hotly contested in gray divorces is not surprising.
In addition, as people age, it is important to maintain adequate health insurance and long-term care insurance or other investment plans should in-home or institutional medical care become necessary.
Anyone facing the possibility of divorce in later years should speak with an experienced family law attorney to understand the legal and practical issues likely to arise and the options for a smooth and wise transition to single life again.
Sometimes after decades of marriage to one person, and often in a second or subsequent marriage, older Americans in their 50s, 60s, 70s and even beyond are divorcing at increasing rates. No longer seeing divorce as embarrassing or shameful, as the baby boomers enter the oldest generation, they bring with them the more relaxed social attitudes of their youths.
The American Academy of Matrimonial Lawyers or AAML conducted a member survey on the topic of “gray divorce.” Results were released in June 2013:
Reuters cites Alton Abramowitz, AAML immediate past president, as pointing to these important factors:
The phenomena of gray divorce is discussed widely in the press and another factor often mentioned is that women are more economically and professionally secure than in past generations and able to support themselves after divorce.
A frequently cited study on the topic is one by sociology professors at Bowling Green State University from 2009. After reviewing two decades of census data, the study’s authors announced that for people who divorced in 1990, less than one-tenth were at least 50, but in 2008, that number had grown to more than one-quarter. This study also made much of the fact that many baby boomers are in remarriages, unions more likely to end in divorce, which will likely accelerate the divorce rate even more among older Americans.
People who divorce after 50 need to focus on their financial and personal security as they age. Sometimes this can be a struggle in divorce negotiations as couples stretch to make marital assets that were supposed to provide for one household in retirement instead pay for two separate households. That the AAML survey cites spousal maintenance, business interests and retirement assets as hotly contested in gray divorces is not surprising.
In addition, as people age, it is important to maintain adequate health insurance and long-term care insurance or other investment plans should in-home or institutional medical care become necessary.
Anyone facing the possibility of divorce in later years should speak with an experienced family law attorney to understand the legal and practical issues likely to arise and the options for a smooth and wise transition to single life again.