On behalf of The Marks Law Firm, L.L.C. posted in Divorce on Monday, November 5, 2012
Watching a St. Louis Rams game on Sundays with dad isn’t the same for one Salt Lake City man. Just one of the many Americans who have seen their baby-boomer parents recently separate and begin new divorced lives, the Rams fan and his family now inhabit a situation that many across the country are doing their best to navigate. After decades of marriage, his parents have decided it best to separate.
In the face of mounting health issues and lingering financial uncertainty, numerous aging divorcees are relying on their children and grandchildren for support that was once provided by their partners. A study released earlier this spring noted that one out of three baby boomers is currently unmarried, and of that portion 60 percent are divorced.
When a legal separation is undertaken later in life, certain specific factors complicate matters and should be closely attended to. The costs of aging in America are ever on the rise, with a private room in a nursing home running well over $87,000 per year, and even an in-home health aide averaging $21,840. Also, disagreements between siblings and potential stepsiblings over the care of their separated parents can complicate and confound life after divorce.
Facing a future without a partner to rely on for care and support, baby boomers seeking a divorce should be especially considerate of the terms and conditions of their legal separation. In addition to financial holdings and property assets, matters such as Social Security benefits and pension rights are all critical factors to be decided as legal negotiations proceed.
With divorces at any age taking place at such a high national rate, preparing for a potential retirement apart is important for both aging parents and their children. In fact it has come to be seen by some as the “new normal.” Whether a separating couple is young, middle-aged, or well into their retirement, getting in touch with a strong attorney experienced in family law can ensure that divorce terms established now can provide for security and stability later.
Source: Reuters, “Double the trouble when divorced parents get old,” Chris Taylor, Oct. 22, 2012
- Our firm can offer a strong advocate in divorce at any age. For more information, contact us through our St. Louis family law page.