Does love really last forever? More people are asking that question after a sharp rise in divorces for couples over the age of 50. The trend has been coined as 'gray divorce.'
Does love really last forever? More people are asking that question after a sharp rise in divorces for couples over the age of 50. The trend has been coined as"gray divorce."
According to legal experts, the legal and financial consequences of gray divorce can be different than divorce at earlier ages. Click here for a gray divorce checklist from AARP.Lower-income divorcees can face unique challenges when finances are split.For higher-income couples, there could be a lifestyle adjustment.There's also the issue of spousal maintenance. That's payment one ex-spouse may have to make to the other after a divorce to help the person maintain their lifestyle.
In some cases, one ex-spouse keeps the marital home. Other times, one or both former spouses will have to figure out where to live. Many couples who pursue gray divorce are empty-nesters, meaning their children are grown and out of the house."I strongly suggest counseling for the family," she said.
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