Older people in Texas who are thinking about getting a divorce are part of a growing trend. Since 1990, the rate of divorce among couples over the age of 50 has doubled. Dubbed “gray divorce” by researchers, divorcing during retirement years is trending worldwide.
Why are so many older people getting divorced?
Researchers can’t pinpoint exactly what is causing the gray divorce trend, but it is likely a combination of several factors. Since divorce has become much more acceptable in society, older people today are probably much more likely to consider it than their grandparents were.
Another factor in grey divorce is “Empty Nest Syndrome.” After couples are done raising their children, they might stay distracted by their careers for a while. When retirement comes, though, these couples may realize that they don’t actually enjoy spending all day together.
Relationship problems that a couple ignored for decades might bubble up to the surface during retirement. If one spouse had a problem with substance abuse, infidelity or irresponsible spending, it may be too much for the other spouse to ignore during retirement.
Gray divorce can be easier in some ways, harder in others
Child custody negotiations that become outright battles are often the most difficult part of a divorce. So in some ways, a divorce during retirement can be easier since there are usually no kids involved. On the other hand, retired couples typically have a lot more assets at stake during marital property division, which can make this part of divorce more complicated. Older divorces may involve the division of:
- Real estate assets
- Retirement accounts
- Jointly owned businesses
- Valuable collectibles
- Stocks and bonds
Don’t rush your divorce
If you are a senior going through a divorce, you may be looking forward to getting the process over with as quickly as possible. However, it’s important not to rush the divorce process and end up losing some valuable marital property in negotiations. Make sure that you account for all marital property in your divorce, and remember that there could be some hidden assets that need to be factored in.