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Growing number of couples over 50 getting gray divorce

Many Iowa residents and others around the country are in the Baby Boomer generation. They are now over the age of 50 and are heading into their retirement years. Statistics show that people in this demographic are experiencing a greater likelihood to get a divorce. While other age groups have seen a decline or at least a plateau in divorce rates, the rate for Baby Boomers is increasing.

According to reports, over the last two decades, the possibility that an adult over the age of 50 would get a divorce doubled. For those older than 65, this chance was greater. The studies show that divorces for this demographic may be for marriages that have lasted for decades. Even if a divorce occurs after a shorter second or third marriage, there are still emotional and financial ramifications.

This has become enough of a trend to have a term associated with it. A "gray divorce" is one that occurs for couples over 50 years old. Often, couples decide that they have grown apart and simply do not want to spend the rest of their lives together. Certainly, as life expectancies have increased, plans and hopes for the future can change as one gets older.

Even if a split is amicable, there may be years of joint assets and accounts to untangle. It is important to thoroughly review all the financial information available. Certainly, retirement plans should be examined and beneficiaries to insurance policies be changed accordingly.

An Iowa divorce lawyer can be a valuable partner during this process. An experienced attorney will focus on an individual's short-term and long-term needs. The goal in the divorce proceedings is to achieve the best outcome possible for a client.

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