Navigating Gray Divorce on Senior Citizens Day
Gray divorce is on the rise, with more older couples ending long-term marriages than ever before. As we approach Senior Citizens Day on August 21st, it’s important to address the unique challenges that gray divorce presents to seniors.
The phenomenon of gray divorce was relatively uncommon in 1970 and saw modest growth over the years. In 1990, only 8.7% of marriages among people over age 50 ended in divorce. By 2019, that number had risen to 36%. Today, according to Bowling Green State University’s Susan L. Brown, co-director of the National Center for Family & Marriage Research, “well over a third of people who are getting divorced now are over the age of 50”. While the reasons behind this trend are complex and varied, understanding them is crucial.
Keep reading to discover why divorces after age 50 are becoming more common and how they can impact a person’s well-being. Here’s what you need to know.
Understanding Gray Divorce
Gray divorce refers to the increasing trend of older couples in long-term marriages getting divorced. This phenomenon highlights the rise in separations among older couples who have been married for many years. According to a U.S. Census Bureau report, more couples over 65 are ending their marriages. Gray divorce differs significantly from divorces among younger couples because the stakes are often higher for seniors due to several factors:
- Financial Security: Senior couples are usually more concerned with financial stability, as they may have limited income sources and are closer to or already in retirement. Divining assets, retirement accounts, and pensions can significantly impact their financial futures.
- Healthcare and Insurance: Older adults often have greater healthcare needs. The loss of a spouse’s health insurance can be a significant concern, especially for those not yet eligible for Medicare or with costly medical conditions.
- Social and Emotional Impact: Gray divorce can lead to isolation, especially if the individual’s social circle is closely tied to their spouse. The emotional toll can also be significant, as older individuals may find it harder to adjust to being single again after many years of marriage.
Key Considerations in Gray Divorce
Navigating a gray divorce presents a unique set of challenges for older adults. The stress of divorce can significantly impact both physical and mental health. Additional hurdles include dividing assets and informing adult children (and potentially grandchildren) about the decision to part ways after many years together. Here are some of the most common factors contributing to gray divorce:
- Addiction and Abuse: Addressing issues related to addiction or abuse can lead individuals to reevaluate and opt for separation.
- An Increased Desire for Happiness: As people age, personal happiness and fulfillment become more critical.
- Empty Nest Syndrome: Couples might reassess their dynamics when children leave home, leading to different paths.
- Infidelity: Infidelity can strain relationships irreparably, leading to the decision to part ways.
- Financial Differences: Discrepancies in financial goals, spending habits, and values can cause couples to separate.
It’s important to understand that divorce looks different for everyone. However, older couples seeking a separation and divorce should consider working alongside a divorce attorney.
Legal Aspects to Consider
After many years together, it can be challenging to recall who owned what. A great first step in a gray divorce is identifying which assets are part of the marital estate and which are pre-marital possessions. Illinois asset division divides marital property and debts between spouses fairly and equitably. It’s essential to understand that the goal is not necessarily to divide everything equally but rather fairly, considering the unique circumstances of the marriage. Here are some key assets to discuss with your divorce attorney:
- Health/Life Insurance Policies
- Property/Marital Home
- Tax Implications
- Social Security Benefits
- Investments
- Retirement Benefits
- Cryptocurrencies
A skilled divorce attorney can help prioritize your best interest regarding asset division. It’s important to note that equitable distribution doesn’t always mean a perfect 50/50 split. It’s about creating a fair and just arrangement based on each person’s unique situation. This process can be tricky, so it’s a good idea to work with a divorce attorney to help ensure your rights are protected during asset division in Illinois.
Legal Support in Gray Divorce
Given the complexities of gray divorce, seeking legal advice from a professional experienced in handling divorces among older adults is vital. A divorce attorney can help you navigate asset division and alimony to help ensure that all legal documents are properly updated.
At Masters Law Group, we understand that gray divorce presents unique challenges and stress. Our clients seek a fresh start, and we are dedicated to guiding them through settlement negotiations and mediation, with their well-being as our top priority. Whether you’re venturing on a contested gray divorce, uncontested gray divorce, or gray civil union separation, our team of attorneys is positioned to advocate for your best interests when it matters most.
Final Thoughts
As we celebrate Senior Citizens Day, it’s important to acknowledge seniors’ unique challenges when facing divorce and separation. Proper planning, support, and legal guidance can help individuals navigate these family law cases with confidence. Remember, gray divorce is not just an end but also a new beginning, offering the opportunity for a fresh start and renewed focus on personal growth and happiness.
At Masters Law Group, we understand there are many moving parts to divorce, and we are here to help you every step of the way. Our dedicated DuPage divorce attorneys are ready to skillfully advocate for your position and provide your voice when you need it most. Servicing DuPage County and the surrounding Chicagoland areas, our attorneys can help guide you through the process and protect your rights.
Contact us today to schedule your complimentary consultation.
