Protecting What You Value Most
Marching toward a grey divorce?
Grey divorce continues to set the trend for older married couples residing in Texas. Many grey divorcees, also known as diamond or silver splitters, are happy to end their long-term relationships. Whether caused by financial issues, adulterous affairs, longer life expectancy rates or addictions, grey divorces are becoming more common in contemporary society. While divorce is on the decline for younger couples, statistics show that there are more cases of grey divorces today than there were a few decades ago.
Grey divorce is a term used to describe a divorce filed by a married couple over the age of 50. Grey divorces typically occur among older spouses who have been married for 20 or more years.
Divorce never occurs without emotional pain. Children are often affected in negative ways, but older married couples no longer have children living at home. Older spouses do not feel obligated to stay married for the sake of their children. Although divorce was formerly regarded as something to avoid at all costs, this type of reasoning has become less prevalent.
Divorce often occurs among couples who never seem to have enough money. A lack of sufficient funds could cause a couple to drift apart as spouses facing economic problems are afraid to spend money on entertainment. This becomes even more problematic for senior couples facing retirement and a limited income; in a divorce, they need to find a way to split their retirement funds equitably.
An older married couple contemplating filing for a grey divorce may wish to first speak to a family law attorney. A divorce lawyer may offer useful advice about how to divide assets in an amicable way.