The divorce rate for the Baby Boomer generation has been rising for decades. This is most notable among those who are over 65 years old. When comparing divorce rates from the 1990s to today, the rate for this age group in particular has tripled.
This trend is part of a broader pattern affecting older couples across the United States. For example, the divorce rate has generally been declining for those under 45 years old, while it has been increasing for those over 45. However, couples who are 65 and older have experienced the most dramatic rise in divorce rates.
How age can complicate a divorce
Child custody issues typically do not apply in these divorce cases, which can make them simpler in some respects. However, there are still significant complications to consider.
Many couples at this age are either approaching retirement or already retired. As a result, divorce cases can become contentious when determining how to divide savings, investments and retirement benefits.
Property division can also be more complex. Older couples often have accumulated more assets, including financial accounts, real estate, business interests and other tangible property. In many cases, they are also engaged in estate planning and deciding how to pass assets on to the next generation. These plans may need to change once marital assets are divided through divorce.
Your legal options
This highlights how complex divorce can be for older couples, especially as these cases become more common. If you are going through a divorce this year, be sure you understand the legal steps you will need to take to best protect your future.
