Divorce at any age can be emotional. Not only are you faced with the task of dividing marital property you have accumulated during the marriage, but there are financial issues that must be addressed before the final settlement is approved. This can be especially difficult if you are over the age of 50 years. Although you may believe that the longer you stay married, the less likely you are to file for divorce, a study initiated by Bowling Green University shows differently. According to researchers, the rate of people over the age of 50 who are filing for divorce is steadily increasing. While only one in ten people in this age bracket filed for divorce in 1990, one in four filed in 2009 and the numbers have risen. It is predicted that the number of post 50-year-old divorces could reach 800,000 by 2030.
It is known as the gray divorce phenomenon and many are wondering what is causing this increase in divorce at a later age. Some believe it is financial stability. Years ago, many women were financially dependent on their spouses and they did not have the means to take care of themselves. With the infiltration of women in the workforce, some women are now financially independent and are not forced to stay in unhappy marriages because of monetary reasons. Another reason may be that people are living longer. Once the kids move out of the house and retirement arrives, people more time and do not want to stay in bad marital situations.
This information is intended to educate and should not be taken as legal advice.