Divorce trends can help provide insight into shifting societal values and cultural standards. For many years, people viewed divorce as a young person’s issue. However, modern divorce trends show that the opposite is currently true. In recent years, divorce rates among those over the age of 50 have increased significantly while younger couples have enjoyed a declining divorce rate. People refer to divorces between adults near or past retirement age after years of marriage as gray divorces.
The idea of changing personal circumstances after decades of commitment can be very intimidating. What can people generally expect during a gray divorce?
The same general rules apply
There are no separate divorce statutes that govern gray divorces. The same basic property division and alimony rules apply regardless of the length of the marriage or the age of the spouses. That being said, divorces that occur later in life may have different implications than divorces between those who are in their prime family-building and wage-earning years.
For example, a gray divorce could very easily involve a couple where one spouse left the workforce years ago to raise children for the family. They may not have separate property or job skills that allow them to support themselves. Judges may consider factors including the duration of the marriage, the health of the spouses and unpaid contributions to the family when attempting to divide marital property.
While custody issues are rarely an issue in gray divorces, there can be concerns about financial support. Dependent spouses may ask for alimony or spousal maintenance, especially if the other spouse has accrued pension benefits that they cannot directly divide during the divorce.
Rebuilding can be harder later in life
Gray divorce tends to come with much more significant financial implications than divorces between younger spouses. The need to split retirement savings, home equity and other valuable resources may mean that both spouses have to accept a lower standard of living following the divorce.
There may also be concerns about benefits. Dependent spouses may need to investigate their eligibility for Social Security retirement and Medicare benefits. Thankfully, there are rules that allow divorced spouses to qualify based on the employment history of their spouses during the marriage.
Those divorcing immediately before or during retirement may have to alter their plans for their golden years. They may want to consider living with family, reducing their travel plans or even working part-time as a way to ensure their comfort after a gray divorce.
Having proper support throughout the gray divorce process can help people protect themselves legally and financially. Older adults may want to approach the divorce process carefully and may need to establish clear goals to enjoy the best life possible after the divorce.