Divorce can happen to anyone at any point in life, though recent statistics reveal certain trends. One study says that during the 1990s 10 percent of divorced people were over the age of 50. Newer research says that 25 percent of people going though a divorce are in that same age range, and statistics seem to indicate that percentage will only increase. This is commonly known as “grey divorce.” There are certain consequences that can result from this type of divorce that Georgia residents may find informative.
Though most divorces involve splitting assets, the divorces of people who have been married longer present additional challenges because the couple has potentially acquired more wealth. Courts will examine the length of the marriage and exactly what property was accumulated during the marriage. Social Security benefits present an additional challenge when deciding who gets what. If two people who are eligible to receive Social Security because of their age decide to divorce, these payments much be taken into consideration when creating a divorce agreement.
There are issues that many people may not even consider when getting a grey divorce. If one spouse was receiving health insurance through the other’s employment, that coverage ends because of the divorce. Older people who often have more need for medical care and less means to work may have more difficulty with this aspect than younger people. Also, though most people assume that divorce is difficult for young children, it can be just as hard on adult children. They may feel obligated to choose a side in the divorce or have difficulty dealing with the emotional and financial fallout that their parent is experiencing.
No matter the reasons, grey divorce can be particularly challenging for those who experience it. People in Georgia over age 50 who are considering a divorce may wish to consult with a legal expert. An attorney can guide him or her through the process and ensure that the transition happens as fluidly as possible.