For some people in the United States, the divorce rate is going up. This often focuses on older couples, sometimes referred to as “gray divorces.” These couples are generally past the parenting stage of life—they may be empty nesters, whose children have grown up—so a divorce means more focus on asset division and financial details than on issues like child custody.
One way to look at the divide in age groups is simply by considering those who are 45 years old. If you’re under this age, then your divorce rate has actually been going down in recent years. It still happens, to be sure, but it is less common than it used to be.
If you are over 45, however, then your divorce rate is going up. Many people who are getting gray divorces are baby boomers who may be in their 50s, 60s or 70s.
The rate for those over 65
In fact, the increase has been most notable for people who are 65 years old and older. Over roughly the last 30 years, the divorce rate for this age group has tripled. This clearly shows that there has been a shift in the way people perceive divorce, especially at this age. Older couples today are much more likely to end their marriages than they were in previous generations.
Your legal options
As noted, these divorces often involve high levels of assets—homes, retirement accounts, investments, etc—and complex financial division. If you are in this position, take the time to carefully look into all of your legal options and your rights. If you are considering a divorce, contact us for a free consultation and learn how we may be able to help.