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Grey divorce: older couples are filing more and more

37230984_S.jpgOver the last five years, you have probably heard about a phenomenon in the world of family law that has been gaining steam. It is called "grey divorce" and it refers to the notion that older couples are getting divorced more and more frequently. A grey divorce is when two spouses are aged 50 or older and they decide to get a divorce.

As you can probably imagine, a grey divorce presents some unique challenges for the splitting spouses. Since they are older, it is more likely that they have more assets and wealth to divide and separate during the divorce process than a younger couple. They may also have assets that many spouses wouldn't even have to consider in their divorce.

There are also factors such as your earning potential and your job status that complicate the matter of a grey divorce. Older couples don't have as many employment opportunities as they used to, nor are they necessarily looking to work for the rest of their lives. They are thinking about retirement. So a divorce can complicate that matter.

But ultimately, thoughts of divorce can strike at any time. Just because a couple is older doesn't mean they are immune to the thoughts of what their lives would be like if they were independent.

Grey divorce certainly can be tricky, but every case is unique and different. There are ways to solve even the most complex of issues in a divorce -- whether the couple is older or younger.

Source: Huffington Post, "50 Shades of Grey Divorce," Accessed Aug. 24, 2016

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