Baby Boomer Divorces Rise Over Last Two Decades
Divorces around Texas and the nation are more common among young people, but marriage splits occur among older people as well. While divorces aren't as messy for those who may not have children, these splits often involve high assets, complicating matters. If you are facing a divorce, knowing your rights and having the best legal counsel and tools available to you is vital.
According to a study conducted by the National Center for Family and Marriage Research at Bowling Green State University in Ohio, the divorce rate for people aged 50 and older has climbed drastically. The rate has doubled between 1990 and 2010, while the rate for younger couples has leveled off. In 1990, 10 percent of divorces were between people over 50. That's compared to the rate of 25 percent today.
Possible contributing factors include a rise in women with careers, people ignoring religious teachings, and the rise in the total number of seniors. The divorce rate is higher for those couples that have remarried. The biggest complication among divorces involving baby boomers is alimony, the home equity split and health insurance.
Divorces are never easy. There are always going to be disagreements over the split of assets among other issues after the end of a marriage. Even when children aren't involved, there are usually complications. Consulting with an attorney to ensure that your legal rights are best protected is paramount to earning a favorable outcome in any divorce proceeding, no matter at what stage in life you go through it.
Source: Chicago Tribune, "Post-50 divorce rate doubled in 20 years," Leslie Mann, Feb. 27, 2013