“Gray” divorce is growing more common and expected to keep rising

On Behalf of | Aug 24, 2021 | Uncategorized |

Divorce happens relatively frequently in Mississippi. This can be for myriad reasons and impacts people regardless of age and financial circumstances. Still, researchers assess the statistics and gauge trends in divorce. One demographic that is seeing a rapid and continuing increase in divorce is people over the age of 50. This is referred to as a “gray” divorce. Often, people in this age range are relatively settled financially and even wealthy. They might not need to worry about such issues as child custody and child support as their kids – if they had any – are adults. Property division and alimony are two concerns that may come up. For those who are thinking about gray divorce, there are key facts they should understand.

More and more older people are getting divorced

Gray divorce is a relatively new term that has been used for around the past 15 years. The number of people in this age group who were getting divorced rose so rapidly that it was called a revolution. From 1990 to 2010, Bowling Green University researchers found that there were twice as many divorces for people over 50 and more than that for people over 65. In the next decade, it is expected that the number of gray divorces will rise by a third. This is happening all over the world and is impacting people personally, financially and emotionally. It is critical to be prepared for all the changes that will ensue.

Factors contributing to the increase in gray divorces

People are increasingly focusing on their own happiness rather than adhering to the societal expectations of the past that people who got married stayed married no matter what. Also, as people grow more independent financially and have longer life spans, they seek fulfillment by moving on from an unhappy or unsatisfying marriage. If they had children and the children are grown up and have moved away, the couple might not have anything in common and will conclude that they are no longer compatible. It could simply be due to people drifting apart and going in different directions in all parts of their lives. There is also the chance that there was abuse in the marriage. It could be physical or emotional and lead to a desire to move on.

With any divorce, it is imperative to be fully protected

In Mississippi, any divorce may be complicated, but it is especially worrying for people with substantial assets to split and other considerations. Older people might have a home, vacation property, retirement accounts, collectibles, automobiles and items of sentimental value. This can lead to extensive disagreements. Some divorces are relatively amicable and the parties can end the marriage without an extended dispute. In others, the sides are acrimonious and are in dispute over a seemingly endless litany of issues. Whether it is a fault-based divorce or they want to cite irreconcilable differences, it is essential to be protected. This is crucial in a gray divorce and should be understood from the outset.