The rate of people filing for divorce after the age of 50 has grown substantially over the past two decades, and is referred to as gray divorce.
Texas couples who have been married for 20 or 30 years may feel as though they will be together forever. While this may be true for some couples, an alarming number of people are filing for divorce in their later years of life. Gray divorce is sweeping the nation as aging baby boomers are dissolving their marriages at an alarming rate. Studies show that the divorce rate of people 50 years and older has more than doubled over the past two decades, according to Bowling Green State University. Researchers have found that there are several contributing factors that lead to divorce after 50, and predict that the rate of gray divorce will continue growing for years to come.
Reasons For Gray Divorce
Although each divorce involves unique conditions, there are some common contributors to gray divorce. According to the American Association of Retired Persons, people may find that they no longer have the same goals in life once they retire and may choose to find another person in which they share common interests.
Years ago, more couples depended on one another for financial stability. People today, however, are able to find well-paying jobs. In some cases, this allows them to become financially independent from their spouses. Couples who divorce after decades of marriage may also be entitled to alimony, depending on the circumstances. Property division in Texas involves separation of 401K plans, Social Security benefits, pensions, retirement funds, stocks and other finances that were acquired during years of marriage.
Empty nest syndrome, which occurs when adult children leave the home, may lead to divorce, as reported by Community Digital News. Couples who have a relationship based around their kids, such as sports, school and other events, often find that there is no relationship left once the kids move out.
According to a New York Times report, people who are involved in their second or third marriage are statistically more likely to file for divorce. Divorce is more socially acceptable in today’s society than it was decades ago.
One in three baby boomers will enter into old age unmarried, which can have major financial ramifications on their future. There is less time for older people to recoup from financial instability. Unmarried people may not have people to care for them as they grow older. While some gray divorcees may have adult children who can take care of them, others are left alone.
Partner With An Attorney
Whether you are filing for divorce at a young age or at an older age, the decisions you make will have a large impact on your future. Many people chose to consult with an attorney in Texas before signing the final divorce settlement. A lawyer may help to ensure that you get everything that you are entitled to in the divorce decree.
Keywords: divorce, gray divorce, retirement, property