A growing number of older couples in Colorado and across the country are opting to divorce later in life. As divorce has become more common in general, the acceptance of divorce can sometimes seem to transfer between generations. The daughters of divorced parents can be 60 percent more likely to legally split themselves while the sons of parents who separated are 35 percent more likely to separate. However, while people may think of younger couples when they consider divorce, older Americans are more likely than ever to end their marital relationships.
Since 1990, the divorce rate for people aged 50 and older has doubled. For people aged 65 and older, the divorce rate has tripled during the same period. Called “gray divorce,” these later-in-life separations can carry their own reasons and additional concerns. Financial issues may be a particular worry for many older couples who decide to end their marriages. It reportedly takes a single person 79 percent of a couple’s income to live a comfortable life, so it can be difficult for both parties to recover financially.
There can be a number of reasons that couples decide to end their marriages in their later years. People who remarry are 2.5 times more likely to divorce than people who are still part of their first marriage. In addition, people in shorter marriages are more likely to split later in life than those who have been together for decades.
When people decide to divorce in their older years, they may be concerned with the impact on retirement. As retirement accounts are often a major asset in a divorce between people of any age, this effect is magnified for older Americans. Greenwood Village, Colorado, divorce attorneys may provide representation that helps to achieve a settlement on key issues like property division and spousal support.