The rise in grey divorces

On Behalf of | Mar 4, 2019 | Divorce

Many Oklahomans may be part of the rising trend of grey divorces, aka splits that involve spouses over age 50. According to research, the overall rate of divorce in the United States has steadily declined over the last two decades. However, the rate for gray divorces has increased during the same time.

To understand the rise in grey divorces, it is necessary to examine how long-term marriages are impacted by certain aspects of life. One of the biggest issues for many unhappy couples is finances. If one spouse has difficulty managing finances properly, or if a couple is saddled with debt and continuously argues about money, a divorce can be likely.

Complications can also arise if one spouse is the only income earner and is in charge of handling all decisions regarding money. The mismanagement of finances and a spouse who tends to overspend can contribute to a divorce as well. Research has shown that when the husband’s earnings are increased, the marriage tends to be stronger. In situations in which the wife’s earnings are on the rise, however, the marriage is likely to be in jeopardy. This may be due to some men feeling uncomfortable about not being breadwinners.

An attorney at a divorce law firm may consider the factors surrounding a client’s separation before recommending certain legal strategies to obtain the desired divorce settlement terms. For older spouses, the attorney could work to ensure favorable terms regarding the division of certain financial assets, such as retirement plans and pensions.