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IL divorce lawyerMany people have looked at sweet, elderly couples and romanticized their decades-long marriages, lamenting a social era that is often said to no longer exist. If you were to ask someone if they thought the divorce rate was increasing or decreasing in the United States, what do you think they would say? Many people would likely say the divorce rate has been increasing for years when in reality, it is the opposite. Data from the Centers for Disease Control and Prevention (CDC) shows that the national divorce rate has decreased from a rate of four out of every 1,000 couples in 2000 to only 2.9 out of every 1,000 couples in 2018. Interestingly enough, when you look at the divorce rates for the different age groups, the groups whose divorce rates are growing the quickest are adults over the age of 50. In fact, the Pew Research Center reported that the divorce rate doubled for adults over the age of 50 and roughly tripled for adults over the age of 65 between 1990 and 2015.

When it comes down to it, divorce is an emotionally stressful process and will be difficult at any age. However, when you get a divorce later in life, there are certain issues that you should pay extra attention to that a younger person may not necessarily have as high on their list of priorities, such as retirement accounts and spousal support. Getting a divorce after the age of 50 also often means there are more property and/or debt issues that must be taken care of before the divorce can be settled. In many cases, a late-in-life divorce, or a “gray divorce,” as they have been dubbed, can become a headache of a legal mess that is best cleaned up by an Illinois divorce attorney who is knowledgeable in the issues that may present in a gray divorce.

Why Are Gray Divorces Becoming More Common?

There have been many theories as to why gray divorces have been increasing in rate in recent years. Many individuals who get divorced when they are over the age of 50 have been married for decades and in some cases, more than half of their lives. It can be hard for some people to grasp why a person would want to leave a relationship after so many years, but researchers have found a couple of common themes:

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Illinois divorce attorney

Divorce is not an uncommon occurrence in the United States — hundreds of thousands of couples are divorced each year. In the past couple of decades, the number of older Americans getting divorced skyrocketed. These gray divorces, or divorces involving couples who are over the age of 50, saw the divorce rate doubled between 1990 and 2015. For those over the age of 65, the divorce rate tripled in the same time span. Despite the many reasons why a couple over the age of 50 would want to divorce, these types of divorces are often complicated and deal with issues that many other divorces do not have to deal with.

Spousal Support in a Gray Divorce

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Posted on in Divorce

Illinois divorce attorney, Illinois family lawyer,If you are close to retirement and facing a divorce (sometimes called a “gray” divorce), the issues you will need to address are at least somewhat different than those faced by younger couples. For example, you probably do not need to worry about child custody, as your children, if there were any, may already be grown and out of the house. You do likely have a lot more assets in the form of bank accounts, retirement funds, shared real estate, and more that will have to be split between the two of you.

Where to Begin

Even if both parties are willing to share and compromise, there is more to splitting certain funds than one may realize. Rather than being able to just share an IRA or 401(k) like you might do with a bank account, there are rules that must be followed to avoid various fees and taxes. Often, individuals who have passed their middle-aged years have a variety of retirement accounts, and they can be tricky.

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