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Gray divorces increase

On Behalf of | Jan 23, 2023 | Divorce

Marriages may suffer problems regardless of the spouses’ ages. The idea that people over 50 won’t dissolve their marriage is incorrect, as data chronicling so]called “gray divorces” reveal. Many older couples file for divorce in Texas and around the country, and various reasons are contributing to the increase of these matters. These reasons may be the same as persons of much younger ages, and some factors appear specific to older persons.

Gray divorces increase

Data from 2015 reveals that roughly 10 out of 1,000 married couples aged 50 and above divorced. That figure doubled that from 1990. Surprisingly, the percentage is higher for persons above age 65. In that demographic, the divorce rate tripled.

Gray divorce figures may continue to increase because of the potential for both spouses to be financially independent. Many people live longer and continue to work, so someone planning on earning a full-time income until age 70 may not worry about divorcing at age 50.

Factors leading to divorce

Older persons may file for divorce for many of the same reasons a younger person would. If one partner is unfaithful or abusive, the other party may file to end the marriage. Others might worry about financial irresponsibility, and an older person could worry more than a younger one. Older adults see themselves exiting the workforce and going into retirement, so they choose not to remain married to someone who overspends or is wasteful.

Older persons might find it necessary to secure the most equitable divorce settlement agreement possible. Again, a looming retirement might lead someone to worry about their financial future. Procuring a fair division of assets might help alleviate concerns about retirement security.