Issues for Baby Boomers Facing Divorce
When older Americans are seeking a divorce, they may think that their issues are relatively simple, since their children are likely to be grown and out of the house, which alleviates the need for the divorce to address issues like child custody, visitation, and support. However, these parties are more likely to own significant assets later in life, and alimony is a more common issue that arises in this kind of divorce. As a result, while the divorces of Baby Boomers may involve different issues than those of younger individuals, they still can be legally complex in nature.
“Gray” Divorce on the Rise
In recent years, divorces involving couples who are age 50 and older have increased dramatically. In fact, according to a study by the National Center for Family & Marriage Research, the divorce rate among those couples age 50 or older has doubled in the 20-year span between 1990 and 2010. Moreover, so-called “gray” divorces constituted 25% of all divorces in the year 2010. This is the case, even as the divorce rates of other groups of Americans of different ages have decreased or remained stable. Clearly, Baby Boomers are a demographic in American society that are increasingly seeking out divorce.
The Financial Impact of Divorce Later in Life
Whether a couple grows apart after a long marriage, one spouse wishes to seek a new direction in life, or the marriage is simply an unhappy one, a Baby Boomer divorce can result in a significant financial change for one or both spouses. While the parties may have accumulated significant assets during their marriage, those assets may not be enough to support both spouses living separately following a divorce. Of course, in the appropriate circumstances, an award of alimony may be necessary to equalize the parties’ respective financial positions.
Given these financial issues that are likely to arise in this type of divorce, individuals should definitely seek the assistance of not only South Florida family law attorneys who are well-versed in property division and alimony, but also the assistance that other professionals, such as accountants and financial planners, have to offer. Additionally, a gray divorce raises issues related to estate planning that also must be fully addressed in the parties’ divorce proceedings. These unique concerns, which are often absent from divorces involving younger parties, necessitate assistance by a South Florida divorce lawyer who has the experience and knowledge to adequately handle all of these issues.
Call Your South Florida Divorce Attorney Today for Help
Here at the Vanessa L. Prieto Law Offices, LLC, we understand the importance of property division and alimony awards in your divorce proceedings. We have represented the interests of countless clients of all ages in South Florida divorce cases, and we know what it takes to get a fair and just resolution in these types of cases. To schedule a consultation with an experienced Florida divorce lawyer, you can call our office at 954-800-2362 or simply fill out the online form located here.