The facts about divorce after 50

On Behalf of | May 17, 2017 | Divorce

Minnesota residents might have heard about the rising rate of divorce for people over 50. This may become a point of worry for people within this age bracket; however, there are some nuances to consider with these divorce figures.

While the divorce rate for people over 50 has doubled in the last 30 years, from 5 in every 1,000 married people in 1990 to 10 in every 1,000 in 2010, the rate has remained lower than that of married people under 50. Divorce for people over 50 is still only half the rate of those under 50. Because a lot of people over 50 have been married for over 30 or 40 years, the reasons for divorce, and for staying together, are both complicated and somewhat surprising.

Couples over 50 who remain married seem to value the quality of their relationships, a factor that’s hard to measure but that some studies have attempted to investigate. Quality refers to the free time spent together by the spouses and how much they enjoy this free time. Easier to evaluate are the financial reasons older couples stay together. Owning property together and having significant wealth seem to be two reasons that keep long-term older couples together. Couples with wealth higher than $250,000 have a 38 percent less chance of divorce than couples with wealth between $0 and $50,000. Additionally, divorce for older couples might also mean a higher risk of poverty for both men and women after the fact.

Older adults who are considering divorce might be worried about their finances. They might seek the assistance of a lawyer who can help them maneuver through the divorce process and explain the family law issues involved. Additionally, a lawyer can help negotiate a fair divorce settlement, keeping in mind the client’s needs after the divorce.