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Gray divorce is on the rise

On Behalf of | Jun 2, 2022 | Divorce |

As a general rule, divorce has been progressively becoming less common. It was very uncommon 50 years ago, but then no-fault divorce laws came on the books. These caused a quick spike in divorce rates as they became easier to obtain. But, since that time, the rate has been dropping.

This is true for most age groups and as an overall picture of divorce in the United States. However, those who are over 50 have a rising divorce rate. The term often used to refer to this type of divorce is “gray divorce.” It is more common than it used to be, even though the exact opposite has been true for everyone else in all other age groups.

It could be more complicated

There are ways in which a gray divorce can be easier, especially because children may not be involved. They may already be grown up and they may have moved out of the house. This takes away a lot of the complications of figuring out child custody.

However, gray divorce could be far more complicated in other ways. Someone who is in their fifties likely has far more assets than someone who is in their 30s. They may be getting closer to retirement age and trying to think about what the divorce means for their retirement planning. They may be doing their estate planning and having to readjust all of the paperwork after the divorce. 

The financial details can become very complicated for this age group, which is why it’s so important for anyone who’s getting a divorce to understand all of the legal options that they have.