You may assume that the odds of divorce are going to go down as you get older. Essentially, you figure that most people get married, realize they’ve made a mistake and then quickly decide to file for divorce. If you’ve been together for decades, doesn’t that mean that it’s clearly working and you’re not going to split up?
This may make some logical sense, and there are certainly couples who split up early because they realize it was a mistake, but the fact of the matter is that grey divorce has been on the rise for a while now. Those who are over 50 years of age are in the only group with a rising divorce rate. This shows that your odds of divorce do get higher as you get older, even if you’ve been together for some time.
This can create extra complications
A gray divorce is often far more complex than divorce at a younger age. You have a lot more financial assets, such as retirement savings or investments. You have put a lot more time into gathering joint assets, to the point that you may not even really remember what was yours initially. You could also have children and, depending on when you had them, they could still be minors. There are simply a lot of things that you have to address when you split up later on in life.
If you are in this situation, it’s critical that you understand all the legal options that you have. You need to know what steps to take so that you can protect what you deserve and set yourself up for a positive future.