The Law Firm of Debra J. Braselton, P.C.
Illinois Matrimonial and Family Law 630-DIVORCE

Divorce after 50 continues to grow in popularity

Have you heard of the term “gray divorce?” It refers to couples over the age of 50 filing for divorce. At one time this may have been a rare occurrence, but it is happening with greater consistency now than ever before. Statistics show that people over 50 are getting divorced at twice the rate people in that same age range were getting divorced 20 years ago.

Getting a divorce in your later years can understandably be difficult. It is not only a change in the way of life you may have grown accustomed to for many years, but you undoubtedly have accumulated a lot of property and money. Because of these unique factors, there are some special situations you should be aware of if you are over 50 and considering divorce.

Financial concerns – Couples who have been together over a long period of time will be dealing with more complex issues as it relates to assets and accounts. These can include investments, social security, pensions and other financial securities.

How assets are divided – Illinois is an equitable distribution state, which means that if your divorce goes to court, the marital property is divided up not so much equally, but fairly. Points of contention can revolve around the home and things that may have personal value as much as financial value.

Children – One thing about getting divorced when you are older, your children may already be grown and out on their own. However, that does not mean a divorce won’t affect them. You may also face issues of financial support and inheritance from older children.

Alimony – Marriages that have lasted many years before there is a divorce will almost certainly have alimony considered. This will especially be true if one spouse was the primary breadwinner during the marriage.

If you are over 50 years old and considering divorce, it is important to be planning what your life will be like post-divorce. Unlike people who divorce at a much younger age, there will be financial and possibly even psychological aspects you should be preparing for as soon as you can.

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