Couples can divorce at any age and stage of their marriage, but when older couples –typically those ages 50 and older – get divorced after a longer-term marriage, it’s often referred to as a gray divorce.
Gray divorce rates are on the rise in the U.S. and have nearly doubled since the 90s, according to the Pew Research Center. The reasons vary but include factors like divorce being less stigmatized now than it was in the past, longer life expectancies leading couples to question whether or not they can really handle “till death do us part,” and couples simply choosing to postpone their divorces in order to keep their family unit intact while raising them.
Regardless of the reason, divorce after a longer-term marriage can be complicated as lives, families and finances have been intertwined for years. Untangling each and every one of those pieces can be emotionally exhausting and fraught with conflict.
The decision to divorce always comes with a significant amount of considerations for both parties. For women in particular, gray divorces can leave them financially vulnerable.
According to Kiplinger, the average women’s income falls by more than a fifth after divorce and remains low for many years. For anyone, becoming financially independent as you near retirement can be a challenge all its own.
To make things easier and more stable after divorce, it’s important to plan and prepare ahead of time. If you’re considering a gray divorce in Florida, here are some steps you can take now:
Lastly, preparing for divorce is not something you should do alone. Find support in your friends and family to help you cope during this difficult time.
Our team at the Vasquez de Lara Law Group is here to help too. Contact us today to learn more about how we partner with you before, during and after this major life transition.