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What is grey divorce?

The idea of grey divorce, which is defined as divorce in people over 50, is becoming more common today. So many people in that age group have started to divorce their spouses that the grey divorce term was specifically created for that demographic. Between 1990 and 2010, the rate of people in the over-50 age group who were getting divorced actually doubled. There is no indication that this rate will slow down any time soon, so more grey divorces will be seen in the future. It can be difficult financially, hard on adult children, and stressful overall, but it can also be the right thing to do for many people.

Why Is Grey Divorce On The Rise?

Grey divorce is on the rise for several reasons. The primary one seems to be that older couples who have been together a long time are starting to realize that they don't have much in common once the kids are grown and out of the house. People become dissatisfied with their life the way it is, and they see divorce as a way to make a big change. People are also living longer, so divorcing after 50 may not seem as daunting as it did in the past. Divorce is also much more accepted today, so the risk of being shunned by others because of a divorce is quite a bit lower than it used to be.

Divorcing At A Later Age Carries Some Disadvantages

There can be serious disadvantages to divorcing at a later age, especially if you don't know the specifics or don't get some legal help to get through the process. For example, all of that money that the two of you have been saving for retirement will probably be split down the middle. You may have to pay alimony. You may also have to move from the house you've been living in for a number of years. Those things can be stressful and difficult, but they are things that can be worked through with guidance. Not everyone who decides on a grey divorce is prepared for those issues, though, which can make things more complicated.

Are You Contemplating A Grey Divorce?

If you're thinking about a grey divorce, the best way to move forward is amicably and with legal help. That way you get a fair settlement that you and your spouse can agree on, and there is a lower level of anger than might be seen with people divorcing at a younger age. But you also don't want to be a doormat, or just agree to a division of assets that you might not completely understand or feel good about. By working with an attorney familiar with grey divorce, you will have the opportunity to get your questions answered and move through the legal process in the best way possible.

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