On behalf of The Marks Law Firm, L.L.C. posted in Divorce on Friday, December 16, 2011
Are you a St. Louis baby boomer who is divorced, or seeking a divorce? If so, you are not alone.
A national news column published today examined why the divorce rate among those over 50 continues to grow. While the overall divorce rate in the U.S. has been dropping for the last 20 years, the rate among baby boomers has doubled in this time.
Many of these couples have been married for 20 or even 30 years. The column’s author, a California family law attorney, says she even has a term for this phenomenon: grey divorce.
There are several reasons, she says, that baby boomers so often divorce:
• Children are a non-issue. Most often, if baby boomers have children, they are high-school age or older. This means child custody and child support are not usually the major issues that they can be with young children. Often, a teenager has more of a say in where they would like to reside.
• Money is less of a problem. Those over 50 may be in a better financial position to seek a divorce than young couples. However, boomers also often have considerable assets and are preparing for retirement. This is why it is especially wise for high-asset couples to hire attorneys when they are going through divorce proceedings. Each spouse will need to ensure that the division of assets and finances are such that they will not negatively impact their retirement.
• The life expectancy in the U.S. has increased. The average life expectancy is nearing 80 years and baby boomers who are unhappy in their marriages, or who are dealing with infidelity and other issues, still have a third act in front of them. This is not to say that divorce does not have a strong emotional toll on those over 50, but simply that baby boomers do still have many years left to seek and enjoy happiness.
Source: Huffington Post, “Is Grey Divorce A New Baby Boomer Rite Of Passage?” Lisa Helfend Meyer, Dec. 16, 2011