Carolann M. Aschoff, P.C.

Divorce after 50 brings special concerns

An increasing number of older couples in New Jersey and the rest of the United States seem to be wanting to end their unhappy marriages. These so-called gray divorces -- which applies to couples who decide to call it quits after the age of 50 -- are on the rise and currently outpacing filing rates of younger couples. While there is no age limit on ending an unsatisfying marriage, older individuals tend to face unique concerns when it comes to divorce.

Back in 1990, individuals aged 50 and older represented only 8 percent of all divorces nationwide. In less than 25 years, that rate shot up to 25 percent as of 2014. Some believe that this increase in the gray divorce rate could be in part due to couples deciding that they simply do not want to live out the remainder of their lives in an otherwise unhappy marriage. However, divorcing during the latter years of life has a distinct financial concern -- retirement.

Divorcing close to retiring age is not without its risks. Alimony can be more difficult to determine given that one spouse might require a steady income for a brief period while the other is already close to retirement. The problem is so prevalent that a full 83 percent of gray divorces involve fights over alimony, while only 62 percent quarrel over retirement savings.

For most people in New Jersey, ensuring a secure financial future is an important goal of divorce. This is particularly true of those who file after the age of 50. The importance of secure financial footing is relevant at all ages and times, and most divorcees can best prepare for their future by preparing necessary documents and gathering all relevant financial data either prior to or shortly after filing for divorce.

Source: Bloomberg Businessweek, "Older Americans Are Jeopardizing Their Retirement With Divorce", Carol Hymowitz, Sept. 29, 2016

No Comments

Leave a comment
Comment Information

Honors and Memberships

Begin Your Consultation Today

For your convenience, we maintain locations in Jersey City, West Caldwell and Bayonne. For more information or to schedule an appointment with an experienced lawyer, email us or call 201-793-7739 or 973-200-4892.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Contact Us

3279 John F. Kennedy Blvd.
Jersey City, NJ 07306

Phone: 201-793-7739
Fax: 201-653-8030
Jersey City Law Office Map

503 John F. Kennedy Blvd.
Bayonne, NJ 07002

Phone: 201-793-7739
Fax: 201-653-8030
Map & Directions

1061 Bloomfield Ave.
West Caldwell, NJ 07006

Phone: 973-200-4892
Fax: 201-653-8030
Map & Directions