You’ll hear people talk about the divorce rate in many different ways. Some will say that it’s been on the rise ever since the institution of no-fault divorce laws, which made divorce easier. Others will say that the divorce rate is falling, especially because couples are now more likely to cohabitate prior to marriage, so people are getting married at a later age.
There’s truth on both sides of these arguments. Often, age is the key factor. According to some studies, your divorce rate is going down if you are under 45, but it is going up if you are over 45. The age group with the most swiftly rising divorce rate includes those over 65.
How age can complicate a divorce
Divorces later in life can certainly be more complicated. For one thing, couples are older and more established, so they tend to have a significant amount of marital assets. They may have been gathering or purchasing these assets for decades.
They are also closer to retirement age, so they have significant investments and retirement savings. The process of dividing property can be more complex at an older age than it would be for a couple getting divorced in their 20s or 30s.
In other ways, though, divorce at a later age can actually be simpler. Many of these couples are empty-nesters. They’ve already had children, and the children have grown up and moved out of the house. So, while dividing assets can be more difficult, these couples don’t have to deal with child custody orders.
If you and your spouse are going to get a divorce this year, it’s important to understand all of your rights and the legal steps you’ll need to take.