Divorce becoming an issue for the elderly

On Behalf of | Oct 8, 2018 | Divorce |

Deciding to end a marriage has been around as long as the decision to marry in Florida. What may be changing is the age of couples when they decide to divorce. The overall rate of divorce is on the decline, but the rate for those couples aged 50 and over has been on the upswing. The divorce rate for those over 50 doubled from 1990 to 2010. Even couples over 90 are seeking to end their marriages.

Among current divorce proceedings, nearly one in four cases involves a couple over the age of 50. This phenomena is also referred to as ‘gray divorce.’ Many of these divorces are commenced by women. This is in part due to the increased number of women in the workplace, resulting in more financial independence.

Even with the economic security that careers have enabled for them, women still face monetary challenges when divorcing. Divorcing women may not be familiar with family finances as most long term planning is still carried out by their spouses. In addition to immediate economic challenges, divorcing older couples can face increased monetary challenges as they age. These challenges can place a strain on adult children as now single parents go to them looking for financial help.

An older person in Florida considering a divorce may benefit from a conversation with an experienced family law attorney. While making the decision to divorce can be a very difficult one, knowing one’s financial standing going into the process can ease the situation.  A knowledgeable lawyer may be able to review the family financial situation and help the client to reach a just financial settlement.