A recent survey finds that there is an increasing number of couples over 50 divorcing. Making the decision to get a divorce can be stressful at any age; however, the most important factors to consider may alter slightly depending on the age of the divorcing couple. Recently, a trend has been noted among couples over the age of 50, as the divorce rate among this group seems to be increasing.
According to a recent survey of members of the American Academy of Matrimonial Lawyers, 61 percent indicated they had seen a rise in the number of people over 50 getting divorced over the past five years. In addition, according to a study conducted by researchers at Bowling Green University, the couples over 50 divorcing doubled during the period from 1990 to 2009.
Of course, when a couple over 50 years of age decides to divorce, the issues they must face will be different from those confronting a divorcing couple in their 30s.
More frequently, couples over 50 divorcing will not have to deal with contentious custody battles, as it is more likely than not that their children will already be grown. On the other hand, retirement funds will be of greater concern to older couples who choose to divorce.
According to the survey, the topics that resulted in the most arguments among older divorcing couples were alimony, business interests and retirement accounts.
Protect your rights during a gray divorce
Retirement accounts are particularly important during a so-called gray divorce, as the individuals involved in the process have less time to regain any lost retirement assets. Generally, it will cost more for two people to live separately. Consequently, retirement savings that may have seemed sufficient as a couple, may suddenly appear lacking when split in two. In addition, when one spouse has taken on the responsibility of raising the family, it may be necessary to specify that a portion of the retirement account of the working spouse will be provided to the other.
Another factor that should be considered when couples over 50 get divorced are Social Security benefits. Again, in situations in which one spouse worked outside of the home and the other did not, the spouse who worked in the home may be entitled to a portion of the Social Security benefits received by the other spouse.
If you are considering a divorce over 50, it is critical to ensure your rights are protected throughout the divorce process. It is wise to seek the advice of a skilled family law attorney in such situations.
Attorney Russell J.G. Amsberry
Attorney Russell J.G. Amsberry founded the Amsberry Law Firm in 1995 with the goal of providing clients with exceptional, focused representation on their issues. His success as a legal advocate has been reflected in the numerous professional honors he has received, such as speaking engagements and inclusion in Scene in SA magazine’s listing of the best lawyers in San Antonio, a Distinguished rating from Martindale-Hubble, and an amazing rating from Avvo. [ Attorney Bio ]
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