One out of every four people going through a divorce in the U.S. is over the age of 50 and the numbers are even greater for the 65 and up crowd. In fact, the divorce rate for Americans over 50 has doubled since 1990. There are several plausible explanations for the shift from the old days of toughing it out even after a marriage fizzled. Certainly, the stigma of divorce has all but disappeared and, with people living longer and healthier lives, the opportunity to live a more fulfilling second chapter beckons. Economic gains realized by women translates into the ability to choose independence over a stagnant relationship and online social groups and dating sites provide a ready source of new possibilities.
For couples considering divorce later in life, there are a number of financial considerations. Depending on the circumstances, alimony may be payable, especially in the case of long-term marriages where one spouse was the primary bread winner while the other manned the household. Retirement funds are usually cut in half, while other assets are are divided according to state law. It is important to seek the help of an experienced attorney to ensure that you are getting a fair shake when it comes to spousal maintenance and marital asset division, particularly for individuals separating after lengthy marriages.
If you are considering divorce, the family law offices of Ronald L. Bell can help. We encourage our clients to fully learn and explore what their options for divorce or separation are, and if you decide that divorce is the right solution for you, we will provide you with effective, knowledgeable representation.