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Why gray divorce can be an inviting -- yet scary -- proposition

While many of us associate divorce with either young couples -- married too early -- or middle aged couples -- demands of work and family prove too much -- statistics show that this mode of thinking may be outdated.

Indeed, these figures show that almost one out of four people pursuing a divorce here in the U.S. are now over 50, while almost one out of ten are over the age of 64.

As for the reasoning behind this phenomenon, experts attribute it to everything from couples growing apart after their children leave home and the relative instability of second-plus marriages to the complete disappearance of social stigma associated with divorce and equal earning power.

Even though the prevalence of so-called gray divorce is on the rise, it's important to stop to consider how a dissolution of marriage could prove to be a very scary proposition for someone who has been married to the same person for several decades.

That's because even though they probably won't have to worry about issues like child custody and child support, they must still deal with issues that may prove especially complex -- and possibly even contentious -- like spousal maintenance and, of course, property division.

The reason why an issue like property division becomes so much more complicated is that many older couples have accumulated significantly more assets, many of which have only appreciated in value over the years (retirement accounts, marital home, etc.).

Furthermore, those involved in gray divorces must contemplate a wholly foreign future in which they likely won't share the same roof with anyone, as their kids are gone and their longtime spouse resides elsewhere.  

The good news is that older people contemplating a divorce don't have to go through the process alone. A skilled and dedicated attorney cannot only guide them through the process and protect their best interests, but perhaps also put them in contact with other professionals who can help them address their other equally pressing needs.

Please visit our website to learn all about divorce and divorce-related options

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