In the United States, an increasing number of individuals 50 and older are divorcing. In fact, the number of older adults seeking a divorce has doubled since 1990, with an even sharper increase for those 65 and above. West Virginia couples considering calling it quits may have their own particular reasons for ending a marriage, but here are a few of the most common ones found across the country.
The first main reason is the state of the relationship. As couples age, issues may become more apparent. Retirees and empty nesters may find their feelings have dwindled when it’s just the two of them left in the house. Others may feel a need to improve or change their lives as they enter a new chapter.
Finances are another common challenge that can cause friction or even the end of a marriage. While missteps may be easy to overlook in the early years when there is still time to earn wealth, retirees may find it another issue altogether to share a fixed income with someone who has less-than-ideal spending habits. Decisions on how to retire, and what to do with limited savings in the second half of life, can also differ.
Gray divorce was once atypical, but demographic, financial and emotional factors are making it more common in West Virginia and across the country. Division of assets can be complicated in these cases, however, as couples often have a lifetime of wealth and other considerations like life insurance and pensions to contend with. It is important that each party work with their own lawyer to clarify their interests and come up with a fair agreement.