Why are Gray Divorces on the Rise?

Gray divorces involve couples who are over the age of 50, and these cases are becoming increasingly common. There are several factors contributing to the rise of gray divorces, including changing societal attitudes toward divorce, which have become more accepting and less stigmatizing.

Additionally, longer life expectancy and improved healthcare have enabled individuals to live longer, healthier lives, leading to a reevaluation of marital relationships. Financial independence and increased gender equality in the distribution of marital assets have also played a role in empowering older individuals to pursue divorce if they are unsatisfied with their marriage.

Whatever the reason, gray divorces are happening more frequently and are often highly complicated.  Distribution of assets and support during the divorce becomes more critical when the spouses are older. Divorce settlements and court decisions will impact retirement plans. Because spouses may be already retired or at the end of their earning years, there is little time to recover from financial setbacks. If you or someone you know is considering a gray divorce, contact us to ensure you have the right legal representation for this complex process.

The Senior Population is Increasing

A key reason behind the rise of gray divorces is the increasing senior population. As individuals live longer lives, they are experiencing more years of retirement and are seeking fulfillment in different ways. This has led to a reconsideration of their marriages and whether they are still happy and satisfied in their long-term relationships.

As people reach their golden years, they may begin questioning whether they want to spend the rest of their lives with their current spouse or if they would be happier starting a new chapter on their own. With the above-mentioned shifts in attitudes toward divorce, older adults are more likely to take action to end their marriages in recent years.

Common Reasons for Divorce in Later Years

While there is a wide range of reasons why couples choose to get divorced later in life, some common factors contribute to gray divorces. These include:

• Empty nest syndrome: Once children grow up and leave the family home, couples may find themselves facing an empty nest. This time of transition can lead to a reevaluation of the marriage, as individuals may realize they have grown apart and no longer share common goals or interests.
• Infidelity: While infidelity can be a reason for divorce at any age, it can be particularly devastating in later years when couples have built long-term relationships and infidelity may have an impact on their relationships with children and grandchildren.
• Strain of caretaking: In marriages that already had some degree of dissatisfaction, a decline in health for one or both of the spouses that requires caretaking by one spouse may trigger a decision to divorce.
• Long Term Issues: One or both spouses may have long term addiction or mental health issues that have not been resolved and have worn out the couple’s emotional bond.
• Lack of satisfaction: Over time, couples may realize that they have grown apart and are no longer happy or fulfilled in their relationship. This can lead to a desire for independence and a fresh start in life.

Issues in Gray Divorces

Gray divorces often involve unique issues that are not typically present in divorces of younger couples. Some of these issues include:

Retirement Accounts and Pension Distribution: Many pensions and retirement accounts are subject to ERISA and can be distributed to the nonparticipating spouse with a Qualified Domestic Relations Order (“QDRO”). Military pensions and federal, state and local government pensions and retirement plans require entry of other specific types of Orders to implement the distributions. Some retirement plans are “non-qualified” and cannot be distributed by QDRO.

In such plans, the retirement distribution share of the non-participating spouse must be accounted for in other ways in the final determination of marital property distribution. Careful review of all retirement plans and benefits statements is needed to determine the proper procedures required by each plan for the division and distribution of retirement assets. At Culin, Sharp, Autry and Day, the couples’ retirement plans will be reviewed carefully, whether they are qualified or “nonqualified”.

Spousal Support Changes at Retirement: The commencement of retirement benefit payments to the parties may create a financial change of circumstances that impacts the amount of support that is paid or received. When spousal support is payable and the marital estate includes retirement assets, parties can agree in settlement what, if any, impact the future receipt of retirement assets will have on the payment of support.

If there is no such agreement or the matter is litigated to conclusion in the original divorce, it may be possible to ask the court for modification of spousal support when the retirement benefit payments begin.  For divorcing parties who have already reached retirement age, the receipt by each party of retirement assets in the distribution of the marital estate should be considered when evaluating the need for spousal support and the ability to pay it.

Current Estate Planning Impact on Distribution of Assets: Spouses over age 50 often have estate plans in place. Already existing estate plans can influence and complicate the distribution of marital assets in a divorce. At Culin, Sharp, Autry and Day we often work with estate planning professionals to resolve estate issues created by a divorce.

Why You Want a Skilled Virginia Divorce Lawyer

A gray divorce can be overwhelming, given the complicated legal and financial issues involved. Many older adults are already uncertain about their financial security following retirement, but a gray divorce makes the stakes even higher. Hiring a skilled Virginia divorce lawyer is essential to protect your future.

Culin, Sharp, Autry & Day manage the entire divorce process, from filing for divorce to negotiating or litigation the distribution of assets and debts and resolving any spousal support or alimony issues. We have an in-depth understanding of Virginia’s divorce laws and can provide strategic advice tailored to your unique circumstances to ensure you are supported.

Consult Our Virginia Divorce Attorneys Today

If you or someone you know is considering a gray divorce, don’t face the process alone. Contact Culin, Sharp, Autry & Day to schedule a consultation with one of our skilled Virginia divorce attorneys as soon as possible.