In an earlier post, I highlighted the “Gray Divorce.” Several studies have been ongoing around the country about Gray Divorces, divorces occurring in the “over 50” population. In 2014, Susan Brown, a professor and chair of the Sociology Department at Bowling Green University, called “Gray Divorce, A Growing Risk Regardless of Class of Education,” in which she discussed that while education appears to be something of an insurance policy against divorce for those under 50, it may have the opposite effect for people over 50. Her study was featured in Time Magazine in October 2014, in an article called, “Why Your Grandparents Are Divorcing (and why you might need to worry about it).” There are special considerations for people over 50 who are divorcing. The Time Magazine story talks about historically, it was the spouse who was the primary caregiver for an aging and ailing partner, but if they divorce, who will be the primary caregiver for the aging and ailing partner? While most people over 50 are considered to be more financially secure than younger divorced people because they have had years to accumulate wealth and retirement, they are also at risk financially because their future working life may be limited.
Collaborative Divorce Option for a Gray Divorce
That is one reason that Collaborative Divorce is a good choice for people over 50 who are divorcing. It enables them to divorce without the ugliness and inefficiency that a litigated divorce costs, and more importantly, it gives each of the parties a process and professional support to develop a long-term financial plan, which is the best insurance for their financial future. If you know someone over fifty who his contemplating divorce, please do them the favor of a lifetime and tell them about Collaborative Divorce.
Camille Milner is a divorce lawyer, who practices in Denton, Sanger, Highland Village, Flower Mound, Argyle, Frisco, Lewisville, and Carrollton and the surrounding areas. To schedule an appointment, call 940-383-2674.