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3 things to know about getting divorced later in life

On Behalf of | Jan 28, 2022 | Blog, High-Asset Divorce |

Throughout long-term marriages, couples often amass wealth and assets as they build their lives together. The accumulation of their marriages may lead to issues, however, if they choose to get divorced later in life. According to CNN.com, between 1990 and May of 2021, the divorce rate doubled among people over the age of 50-years-old.

After long-standing marriages, established adults often face unique challenges.

The chance for a new chapter

Living longer, more people choose to leave unhappy marriages to pursue a more fulfilling life path. As the stigma around divorce continues to diminish, it emboldens some to reevaluate their relationships and determine if work will repair them or if the time has come to move on.

The financial considerations

According to Today.com, considering the division of assets and how they will support themselves often affects people’s decisions and feelings regarding late-in-life divorces. For example, one spouse worked outside the home during a marriage, while the other raised the children and kept the home. The spouse who stayed home may petition to receive spousal maintenance until he or she can support himself or herself.

The impact on the kids

People who get divorced after the age of 50-years-old often think their adult children will have no issue coping. However, sometimes even older or adult children struggle with the emotions of their parents getting divorced. Having a willingness to discuss the divorce with them, just as they would if they were young, may help parents make the process as smooth as possible for their kids.

Young or older, getting divorced significantly affects people’s lives. Preparing and exploring the available options may help make the process as smooth as possible for those who split from their spouses later in life.