The challenges of dividing up marital assets and restructuring a family can be substantial, especially for couples choosing to divorce later in life. There is a stereotype that divorces most commonly take place between young couples, but this is not the case. Recent statistics show that in 2009 one in four people getting a divorce were over 50, compared to one in ten in 1990. Studies show that more and more baby boomers in Ohio and across the U.S. are saying "I don't" than ever before.
The author of the book "Too Good to Leave, Too Bad to Stay," attributes the trend to that fact that many people today can expect to live longer and remain active for more years than ever before. With so many healthy years ahead, people aren't willing to stay in an unhappy marriage when they have time to strike out on their own and have a shot at happiness.
In addition, women age 50 and over have more money than ever before. With jobs, careers, and the ability to earn more money women don't feel constrained by finances as much as their mothers may have. This could contribute to the fact that in two thirds of divorces involving people age 50 and up, the woman is the one who initiated the divorce.
Experts point out that a divorce later in life can take a toll on your financial situation. It can be upsetting when you suddenly have much less money than originally planned for retirement. That's why it's so important to seek the counsel of an experienced family law attorney who will work to protect your best interests.
Soure: CBS Boston, "Baby Boomers Divorce Rate Skyrocketing," Paula Ebben, WBZ-TV," July 2, 2012