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Gray Divorces are a Divorce Trend in Florida and Elsewhere

On behalf of The Law Offices of Cindy D. Sackrin posted in Divorce on Friday, May 23, 2014.

As discussed previously in this blog, so-called "gray divorces" are on the rise. For three southern Florida residents aged 50 to 60, having recently gone through divorces later in life, the new trend is personal. The divorce rate for those 50 and older doubled between 1990 and 2010. In 2010, around one in four divorces were between those 50 and older, while, in 1990, one in 10 divorces were between those 50 and older. Historically, the divorce rate for those 50 and older has dropped.

According to researchers, the marital patterns of baby boomers accounts for the spike in divorce between those over 50, this is now being followed by experts. Experts note that baby boomers view divorce differently, with less stigma, and are enjoying longer life spans. They are increasingly reluctant to spend in an unhappy marriage. Therapists and financial planners alike, however, have concerns about how older individuals being both alone and financially vulnerable can impact society. Concerns about retirement stability for adults divorcing later in life are significant.

Like all divorces, the end of a marriage can involve many important divorce legal issues, which are important to consider carefully. As one man, who had recently gone through a gray divorce of his own noted, divorce can be the most important negotiation in an individual's life.

For those who are divorcing later in life, there may be little time to recover from the financial impact of divorce. This is why it is important to have a thorough understanding of needs and the process. Gray divorces may not negotiate over child support and child custody, but they can also be more complicated because of a greater number of assets to be negotiated about can and involve high-equity homes, retirement accounts and pensions.

Because high-asset divorces and gray divorces can sometimes be complicated, it is important to have sound advice during the process. By focusing on how to best negotiate the end of a marriage based on a solid understand of the needs of the parties, the process can proceed more smoothly and allow the parties to focus on the future

Source: The Daily News Online, "Suddenly single: Boomers lead the way in silver divorces," Ana Veciana-Suarez, May 5, 2014

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