Explosion in divorces among Boomers

By July 3, 2012Divorce

On behalf of The Marks Law Firm, L.L.C posted in Divorce on Tuesday, July 3, 2012

A few months ago, after the release of a study on divorce among people over the age of 50, we wrote in this space about a surge in splits among Baby Boomers.

As you’ll recall, one quarter of all U.S. divorces now involves couples age 50 or over.

A recent article reminded us of the graying of divorce in America. The reporter wrote of a woman, 52, who said she decided to divorce after 20 years of marriage: “Emotionally, physically, we just couldn’t relate to each other anymore.”

A doctor who co-wrote the book “Too Good to Leave, Too Bad to Stay” says divorce is simply not unacceptable to the Baby Boom generation, as it was for many of their parents who were in marriages that soured.

One reason for the change is that Boomers are physically healthier than their parents and can expect to live longer. Boomers are thinking to themselves that they don’t want to spend those extra years unhappily.

He said that in two-thirds of these “gray” divorces, the woman is the one who made the final decision to end the marriage.

These women have more financial assets than their mothers did, largely as the result of jobs and careers.

Many of them wait until their children have finished high school, so that their kids don’t have to go through the emotional difficulties that can often accompany divorce.

However, financial experts caution those in this age group to approach consideration of divorce cautiously. People who are getting close to retirement age can in some cases have a lowered standard of living after their retirement as a result of a divorce.

It’s the sort of outcome that should be discussed and examined by an experienced family law attorney as well as financial specialists.

Source: CBS, “Baby Boomers Divorce Rate Skyrocketing,” Paula Ebben, July 2, 2012