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Gray divorce rates have been rising

On Behalf of | Aug 31, 2023 | Divorce |

Despite the fact that many people will talk about divorce rates constantly going up, the truth is that they have generally been going down. In the 1970s, no-fault divorce laws swept across the country. This did lead to an increase in divorce. People at the time complained that divorce rates were spiraling out of control, and some people will still repeat this today.

But it’s been 50 years since that happened, and the majority of Americans have enjoyed a falling divorce rate since that time. There is one group that is still bound by these outdated statistics, however: Baby Boomers. People who are 50 years old and older are getting divorced at a higher rate than any other age group. In fact, theirs is the only age group for which the divorce rate is going up, rather than down.

Does this make divorce more or less complicated?

A divorce at this age can be both more simplistic and more complicated in different ways. For one thing, these divorces often happen when couples become empty-nesters. Since they no longer have minor children, they don’t have to focus on parenting time, child custody and decision-making abilities. This does make things a lot simpler.

However, these couples may have far more complex financial concerns. They have spent decades saving up a greater amount of assets. They are nearing retirement age and may be thinking carefully about their financial future and what they need. They also may own significant assets, like family homes, vacation homes, multiple vehicles or even businesses.

All of this can make the divorce very complicated and very contentious. It’s important for those who are going through this process to understand their legal options.