August 28, 2013 /24-7PressRelease/
-- It is a well-known fact that people are living longer today than their parents or grand-parents. Emphasis is placed on having a life that is enriched and fulfilling and many people over 50 in Tampa are discovering that they can still embark on a new career path, finish their schooling, and change things in their life that they are unhappy with. For many, this means making the choice to divorce their spouse.
among older Americans is becoming more common according to a study conducted by Bowling Green State University. The study terms the trend as "gray divorce" and shows that divorce rates are rising for people over the age of 50. In 2010, people of this age group were involved in one out of every four divorces and the rate is expected to increase over the next several years. The study does not attempt to explain what factors may be playing a part in the trend but does point out that people in remarriages are at a higher risk of divorcing again.
CHALLENGES FOR OLDER COUPLES
A marriage ends for a number of reasons. There may be infidelity for one or both spouses, a breakdown in the relationship to the point where the spouses can no longer stand one another, or it may simply be that the spouses have drifted apart as each pursues their own interests. When a marriage comes to an end for older people, there can be special challenges that face them, such as retirement and finances.
According to USA Today, divorce for older people can put them in a situation where they need to make significant changes to their lifestyle. This is especially true for women that have spent the majority of their adult lives raising children instead of building a career and, as a result, they may require alimony. It is important for older adults to examine what they will need to live on in their retirement years and they should expect those costs to rise by 30 percent since the retirement will support two separate lifestyles instead of one.
Older couples going through a divorce will need to make big changes in their lives, especially if they do not have independent wealth. These changes include:
Moving into a smaller home
Cutting out extra expenses such as dining out, country club memberships and travel plans
Working longer - divorce can eat into a supporting spouse's retirement funds so they may have to put retirement off as they rebuild.
No financial support for grown children - parents who divorce over the age of 50 may need to explain to their children that they do not have the ability to fund a wedding or help them buy their first home.
Medical care - spouses who divorce will no longer be able to receive insurance coverage under the other person's medical insurance. This means that the spouse will have to find employment in order to obtain coverage if they are unable to qualify for available government programs such as Medicare or Medicaid.
If couples are willing to work together and carefully evaluate their situations, they can successfully go through the divorce process and have the ability to move on with their lives. In order to make sure that settlements are done properly it is best to consult with an experienced attorney.