Gray divorce is the term used to describe the high divorce rate for couples over 50 who have been married for decades. While the overall divorce rate is decreasing in North Carolina and throughout the US, more older couples are deciding to end their marriages for a number of reasons.
Why is the divorce rate changing?
According to research, there is a divide in generational mindsets when it comes to marriage. While baby boomers are more likely to get married young and stay together as long as possible, millennials, as well as Gen X and Gen Y, are foregoing marriage or getting married later in life. As a result, couples from younger generations are more likely to remain married.
The results of getting divorced after the age of 50 can be especially life-changing, so couples should know what to expect emotionally and financially.
The impacts of gray divorce
Finances are an important part of any marriage and could be a point of contention in divorce. This issue could become very complicated for older couples, especially if one spouse made all or most of the money in the marriage. If one partner makes an investment that takes money away from the couple’s nest egg, this could lead to divorce for couples who are nearing retirement age and concerned about their financial futures.
Infidelity is also an issue for couples of all ages, and older couples are no exception. Many people are engaging in affairs when they are not being sexually satisfied at home, and this is often mentioned as the reason for divorce. Of course, infidelity is usually a sign of bigger issues in a marriage.
If you are considering a gray divorce, talk to a North Carolina family law attorney. A lawyer who has experience with family law issues can provide you with important information to ensure that you retain the assets that are rightfully yours once your marriage has ended.