Later-in-life divorce rates on the rise

 Posted on December 10, 2015 in High Asset Divorce

Divorce that happens later in life, also known as silver divorce, is becoming increasingly common in Illinois and other states. In the year 2014, people who were 50 years old or older were two times as likely to divorce as they were back in 1990. For those older than 65, the increase in divorce rates was even greater.

While divorce among older individuals is on the rise, divorce rates have actually dropped or leveled out among people of other ages. One possible reason for this is that many older individuals are in their second marriages. The rate of divorce is 2.5 times more for remarried individuals, as these people often deal with the difficulties associated with being in blended families and also face bigger financial challenges.

p>Life expectancy additionally plays a major role in the rising divorce rate among older people. People simply died earlier in the past than they do today. Another huge reason for a larger number of divorces today is that women initiate nearly 60 percent of marital dissolutions that occur after the age of 40, so more women are taking decisive steps today.

Although divorce may be freeing for an individual in Illinois, the process can be overwhelming both emotionally and financially. If possible, it may be beneficial for two divorcing individuals to negotiate or mediate the divorce, which may lead to a mutually beneficial settlement. If they cannot do this, a court will have to get involved and make essential decisions for them regarding areas such as asset division and the distribution of property.

Source: dallasnews.com, "After spending lives together, more older couples are divorcing", Dec. 4, 2015