The number of so-called “grey divorces” has roughly doubled since the 1990s for the 50 and older age group. For those ages 65 and older, the divorce rate about tripled according to the National Center for Health Statistics and US Census Bureau.
Getting a divorce later in life can be devastating for many. In fact, it can be even more devastating both emotionally and financially for older adults compared to those divorcing earlier in life.
The thought of starting over for older adults is often very daunting. For instance, a woman getting a divorce at 60 may feel completely lost and fraught with worry about her financial future. If she has not worked for the last 30 years, how is she going to financially support herself? How is she going to find a job after being out of the work force for 30 years? What kind of job can she get?
In addition, older individuals who get divorced often find that their retirement plans may change, especially for those who have been steadily employed. For instance, a woman who works full time planned on retiring at the age of 60. She makes significantly less than her husband. Now that she is getting a divorce, she may not be able to retire at age 60. She may have to work several years longer than she originally planned due to the divorce.
Tips for Individuals Getting a Divorce Later in Life
1. Get Help from Experienced PA Divorce Lawyers
If you are facing divorce after 50, talk to an experienced divorce attorney. The financial issues can be very complex for adults divorcing later in life.
Firm partners Kevin Zlock and Brian Coverdale are compassionate divorce lawyers who strive to achieve the best possible results for their clients. In addition, Brian Coverdale is a Certified Divorce Financial Analyst (CDFA). Mr. Coverdale's practice focuses on strategy and litigation for high net worth individuals going through divorce and property division in Doylestown, New Hope and surrounding regions in Bucks County.
2. Join Support Groups
Getting a divorce later in life can be really tough emotionally. Your children may all be grown and are no longer living with you. You may feel isolated and alone. It is a good idea to find a support group to talk to those who may be going through the same thing.