Divorce trends in the United States are intriguing, in large part because divorce is falling for younger people and rising for older couples. As a general trend, divorce rates are falling for those under 45, while they are increasing for those over 45.
But the older you get, the more dramatic it becomes. If you compare the divorce rates for those who are 65 years old and older today to the rates for the same age group in the 1990s, for instance, you will see that they are three times as high now.
More high-asset divorce cases
This often complicates the process, especially when it comes to assets. A couple who gets divorced in their 60s is much more likely to be going through a high asset divorce. They have spent decades working, starting businesses, saving for retirement, investing their assets and more. A couple in their 20s may have only minor assets to divide and may be mostly focused on child custody. But older couples, though they typically do not have to address custody issues, often have substantial assets.
It is also important for them to consider their standard of living and their retirement options. Divorce can impact both of these. People may have grown accustomed to a certain standard of living that is not sustainable after divorce. Many couples have saved for retirement together, and they now have to divide assets and benefits.
In cases like this, it is crucial for older couples to know how to protect their assets and their future as they navigate the divorce process. It can help to work with an experienced divorce attorney at this time.
