In recent years, the divorce rate among couples who are retired or close to retirement has steadily risen. Couples who’ve been married for several years may suddenly find themselves with more time on their hands and may be able to better focus on issues within their marriage that were previously neglected. The Jimenez Law Firm explores why more couples are getting divorced after retirement, what percentage of them do so, and how the experienced divorce attorneys at the Jimenez Law Firm can help them navigate this delicate process.
Divorce attorneys serving Addison, Andrews, Argyle, Bedford, Carrollton, Colleyville, Coppell, Crane, Dallas, Denton, Euless, Flower Mound, Fort Worth, Frisco, Garden City, Gardendale, Goldsmith, Grandfalls, Grapevine, Hurst, Irving, Justin, Keller, Kermit, Lake Dallas, Lenorah, Lewisville, Little Elm, Mc Camey, Midkiff, Midland, Monahans, North Richland Hills, Notrees, Odessa, Plano, Rankin, Roanoke, Southlake, Stanton, Tarzan, The Colony, Wickett, and Wink.
Why Do Divorce Rates Increase After Retirement?
In 2021, the U.S. Census Bureau released new data indicating that the divorce rate in America is approximately 34%. Notably, adults between the ages of 55 and 64 have the highest divorce rate of any age group at 43%.
A “gray divorce” is a term used to refer to couples over the age of 60 who are divorcing. This phenomenon has become increasingly more common in recent years as more and more Baby Boomers approach retirement age and find their marriages lacking the same level of connection they had previously enjoyed.
As they retire from their jobs and find they have more time to spend with one another – many realize that perhaps their marriage isn’t what they had thought it was. There are a number of reasons why a couple may divorce after retirement.
More Time Together
While having more time together appeals to many retiring couples, it doesn’t always work out the way they had hoped. One of the primary reasons for a surge in divorce rates among couples who are retired or close to retirement is that they now have more time on their hands to focus on their relationship and issues they may have neglected before.
With fewer responsibilities and constraints on their day-to-day lives (like one or both spouses working during the day), many couples have difficulties navigating the complexities of having more time together. Increased quantities of quality time can exasperate existing marital issues and create new problems as couples struggle to navigate their newfound freedom and adjust to their new living situation.
In addition, many couples who are retired or close to retirement may be feeling a sense of independence that they lacked when tied down to a job. They may have a desire to explore this independence on their own. After years of living together and relying on one another for companionship and support, such couples often find they have different dreams and aspirations for the future. This can ultimately lead to conflict as the couple explores what they want their future to look like.
A Change in Mindset
It’s not just a change in lifestyle or newfound independence that can cause couples to get divorced after retirement. In some cases, changing preferences over the years for politics, religion, and other matters can also create a rift between two people.
As couples age, their beliefs and values may evolve as they experience life in different ways. This can create a divide that is difficult to bridge.
Health & Wellbeing
Physical and mental health are two important aspects of any relationship. And, when one person is focused on improving their health while the other refuses, it can create or worsen marital issues.
In many cases, aging couples may find that one partner is more interested in pursuing physical activities or self-care initiatives such as yoga or meditation, while the other partner is simply unenthused. This can lead to clashes, and, ultimately, a greater desire to pursue divorce.
Furthermore, the culture surrounding wellness creates the notion that life should consist of enjoyable experiences. That one should pursue activities out of passion and joy rather than obligation. Rather than staying married out of obligation, more individuals are opting to pursue divorce and find greater satisfaction in life through activities they enjoy.
Advances in technology and healthcare mean that people are living longer than ever before. Many couples who are retired or close to retirement find themselves greeting this milestone with decades of life still ahead of them.
In the past, it was uncommon for someone to begin their life anew at the age of 65. However, many individuals can envision themselves starting fresh. It’s no longer expected that someone will remain in the same home or profession for 40 to 60 years. And, likewise, it’s becoming more acceptable for couples to end a relationship that has reached its end.
Financial Implications of Gray Divorce
When it comes to divorce, finances are always a major consideration. This is especially true for couples who are retired or close to retirement as they may be on a fixed income and need to plan wisely to ensure they maintain financial stability. An experienced divorce attorney can be an invaluable asset when it comes to this process by helping to ensure your financial security is protected.
It’s also important for couples to understand how assets and liabilities will be divided in the event of a divorce. For example, if they decide to sell their home and split the proceeds, they may find that the housing market is much more expensive than in previous years. This could make it much more difficult for them to find desirable accommodations within their budget. This is why it’s so important to understand what options are available when it comes to property division and spousal support, so they are better able to make informed decisions about their future.
Dividing Assets in a Late-Life Divorce
The division of assets in a divorce is particularly complex for couples who are retired or close to retirement. In some cases, the couple may have accumulated substantial assets over the years. These assets will need to be divided in the event of a divorce. Assets can include investments, property, retirement accounts, and other shared resources such as pensions or social security benefits.
It’s important for each partner to understand what their rights are when it comes to the distribution of assets, and the skilled divorce lawyers at The Jimenez Law Firm can help them gain clarity on the issue.
Dealing with Health Concerns for Couples Divorcing After Retirement
It’s not uncommon for older couples to have existing health concerns that would need to be addressed in the event of a divorce. This includes long-term care, medical bills, and health insurance coverage.
Divorce attorneys can help couples understand their rights and responsibilities when it comes to these matters. Schedule a consultation with The Jimenez Law Firm today to discuss your unique case!
Estate Planning for a Gray Divorce
Estate planning is another important consideration for older couples who are nearing retirement or have reached retirement age. This includes things such as wills, determining how assets are distributed upon death, and making sure all necessary documents are in order before the divorce is finalized. An attorney can help you establish or modify the necessary documents to ensure your wishes are followed.
Divorce Attorneys You Can Count on For Results
The Jimenez Law Firm has extensive experience in handling divorce cases and understands the complexities of gray divorce. Our team of experienced attorneys provides guidance throughout the process to protect your rights and make sure your best interests are looked after. Our experienced divorce lawyers can also help work toward an agreeable resolution for both parties to ensure a swift and efficient divorce to save both time and money.
We are dedicated to helping you reach a favorable outcome for yourself and your family while protecting your rights and interests.