When older couples divorce, the stakes are higher and the costs are steeper.

When older couples divorce, the stakes are higher and the costs are steeper.

Over the past few months, multiple media outlets reported an uptick in “gray divorce” – divorce by couples in their fifties or older. There are several contributing factors: our population is aging, people are staying healthy longer, and couples are marrying or re-marrying later in life.

Every divorce comes with emotional and financial ramifications, but for older couples, the stakes are higher and the costs are steeper. Older couples have often had significantly more time to acquire assets and frequently have assets of substantially greater complexity. They have almost always made substantially larger life and career changes as a result of their marriage than younger couples and often have invested many years in raising children. They often have defined benefit pension plans that are rare among younger individuals these days.

Health insurance, life insurance, retirement transfers, distribution of marital debt, the substantial additional expense of establishing separate households, and changes in standards of living – these important economic factors are amplified for older couples who are divorcing.

At LKMB we use our years of experience and extensive knowledge of family law to assist our clients with navigating the expenses that accompany divorce. Some issues may require the expertise of an outside financial professional and we keep a list of trusted referrals for just this purpose.

Many divorce and custody concerns are universal, but every family’s situation truly is unique. With the right help, most divorcing couples can reach a settlement without needing to go to trial. Understanding the financial implications of divorce empowers individuals to make informed decisions, seek appropriate resources, and ultimately rebuild their lives with greater resilience.

While we pride ourselves on our depth of litigation experience, staying ahead of potential problems and addressing them amicably is an important part of our commitment to doing all that we reasonably can to help our clients emerge positively from the divorce process.

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