Across most demographics, divorce rates have declined in recent years. However, gray divorce has bucked this trend. Gray divorce refers to couples aged 50 or over.
There are several reasons why couples of this age may get divorced. Outlined below are some of the more common causes.
Financial disputes
As couples reach retirement age, income, savings and retirement funds become much more important. Most people don’t want to work well into their advanced years unless they have to. This is why financial disputes can hit older couples especially hard. For example, if one spouse has made a bad investment that depleted savings for the future, this can cause real issues. This is especially the case if they had not told their partner about it beforehand.
A changing household
When the house is full of children and grandchildren each week, it can keep spouses so busy that they don’t have much time to focus on marital issues. Often, couples in trouble can pull it together long enough to show a united front for children and grandchildren. Nonetheless, children don’t remain children forever. They grow up, find new hobbies, start families of their own etc. All of this means that they may no longer be around the household anymore.
There is a syndrome referred to as empty nest syndrome, and it is one of the more common causes of gray divorce. Once the household becomes quiet and empty, spouses begin to realize that they are no longer a good fit.
Gray divorce can be especially complex due to the number of assets available. If divorce is a possibility for you, there is no time like the present to begin thinking about your legal options.
