Whether you are thinking about ending your marriage as an older adult, or are currently in the middle of the divorce process, you could have a number of different issues to work through. Sometimes, older adults have an especially difficult time dealing with divorce issues as a result of high net worth. High-asset divorce raises a number of potential concerns, especially when it comes to marital property, and you should focus on these issues thoroughly.
As an older adult, you could have other concerns about divorce and your finances, from estate planning to retirement and spousal support. However, you should know that many people are in your position, and a lot of older adults decide to move on from their marriage.
Data on older adults and divorce
According to the U.S. Census Bureau, the number of older adults getting a divorce has gone up in recent years. In fact, among those between 55 and 64 during 2016, 43% of men, as well as women, had gotten a divorce. In 2016, 24% of those 75 and over had gotten a divorce in their life, compared to 39% of those between 65 and 74.
Other statistics on older adults and divorce
The Census Bureau sheds additional light on older adults who ended their marriage. Based on information from 2016, around 5-10% of adults 60 and over had tied the knot at least three times in their life, while no less than 20% of women between 60 and 69 had married two times.
Some experts attribute these rising divorce rates to increasing marital instability, but there are many different reasons why marriages end. If you are dealing with divorce later in life, you should not feel alone.
