For most Americans, the divorce rate has been falling. This is especially true for younger couples. Those who are under 45 years old, for example, have had a declining divorce rate.
This isn’t always because younger couples are in more stable marriages, however. Part of the reason is that people wait longer to get married these days than they did in previous generations, and cohabitation is more common. So some couples still start relationships, live together and then break up at a relatively young age, but they don’t count toward the divorce statistics.
On the other side of the spectrum, though, older couples have a rising divorce rate. It is highest for those who are 65 years old and older. This is often referred to as gray divorce.
Why it can be more complicated
A gray divorce can happen for many different reasons. But one thing that’s often true is that the children have already moved out of the house. In fact, one of the top reasons for a gray divorce is that couples become empty nesters and then reassess their marriage without the distraction of parenting. This means that these divorcing couples would not need to deal with child custody disputes.
However, the divorce can still be very complicated because these couples tend to have a lot of financial assets. They own homes and real estate. Many of them are business owners. They have retirement savings and complicated investments. They have tangible assets that they have accumulated over decades.
If you’re going through a gray divorce, sorting out property division is important, and it’s crucial to know what legal steps to take.