With age comes a wealth of experience, but unfortunately, it is not always pleasant. It may take some California residents years to realize that they are no longer happy and fulfilled in their marriages, and that it is time to consider their futures in a new light. Recent years have seen increasing numbers of older couples deciding that their way forward lies in divorce.
The rise in so-called grey divorce is thought to be due to several factors. For one thing, it is considered far more socially acceptable now. There are also many couples who have children who may find that they are able to weather the storm while the children are dependent on both parents to raise them. Once the children have grown up and created lives of their own, the parents may feel that it will be easier for their children to understand the need for the parents to pursue their own lives.
Some couples may have managed to accrue a substantial sum in retirement plans or other savings accounts during the courses of their marriages, while others may have made alternative investments for their futures. The downside of divorcing later in life is that it can be more difficult, or take longer, for those without such plans to make up lost ground financially. For those whose marriages lasted for 10 years or longer, one may be able to claim a percentage of his or her ex-spouse’s Social Security benefits.
The financial implications of divorce may not be easy to understand at first glance; however, advice is available from a variety of sources that can help California residents make the best decisions for them. Keeping discussions amicable and maintaining an open mind can make the process move forward as smoothly as possible. With careful planning and appropriate guidance, divorce can be the start of a positive new chapter in one’s life.
Source: kare11.com, “‘Gray Divorces’ trending upward“, Adrienne Broaddus, Jan. 30, 2017