What Senior Citizens Should Know About Divorce

While the divorce rates in the U.S. are down overall, studies show that the divorce rate among seniors doubled in the years between 1990 and 2009, in a trend that's been dubbed "gray divorce". So, if you've found yourself in the midst of a post-retirement divorce, you should know that you're not alone. Later-in-life divorces happen for many reasons, and the transition from worker to retired person or full-time parent to empty-nester can be hard on many couples, causing them to reevaluate their relationships. Take a look at some things you should know about divorcing during your golden years.

Your Finances Will Take A Hit

Divorce is rarely profitable for anyone at any age, but as a senior, you're liable to get hit harder in a divorce than you would have in your 30's or 40's. Part of the reason for this is a simple lack of time to recover. If you divorce early or in the middle of your career, you have time to rebound from the financial hit that accompanies any divorce. You can work overtime, pay off debts, and stash money away for several more years. But if you're soon-to-be retired, or if you've already retired, you may be looking at a fixed income that's about to get cut in half.

Furthermore, seniors are more likely to have had long-term marriages. Alimony after 25 years of marriage is a much surer bet than alimony after only 5 years of marriage, so if you're the higher earning spouse, you can expect to make payments to your ex for quite some time – possibly for life.

Kids May Still Be An Issue

The upside to divorcing in your later years is that child support and custody are less likely to be considerations. However, that doesn't mean that your children won't still need to be considered in the divorce arrangement.

Financial support for adult children usually cannot be written into the divorce settlement, as neither you nor your ex-spouse can be compelled to continue giving money to a third-party adult. If you have been supporting an adult child and want to continue to do so, you'll have to make arrangements outside of the divorce settlement. However, there are a few exceptions. If you have an adult child in college, you and your spouse may ask to have the tuition payments divided up in the divorce settlement. Also, if you have a disabled adult child, you may be responsible for court ordered child support.

You May Need to Combat Isolation

Seniors are at great risk for social isolation as it is. Studies show that 43% of seniors report feelings of loneliness, and feelings of loneliness correlate with physical and mental decline. A spouse won't necessarily protect you from experiencing loneliness, but losing your spouse to divorce can also alienate friends and increase the risk of loneliness.

While you're planning your financial future and deciding how to discuss your divorce with your adult children, you may also need to prioritize socialization and relationships with friends and family members, for the sake of your own health. You may be able to kill two birds with one stone by reentering the work force or rooming with family members or friends – both of these possibilities address divorce related financial issues, and you'll have coworkers or roommates for company.

Because senior divorces can be complicated due to financial factors, you will need good legal representation. It's best not to try to go it alone. Find a family law attorney like Margit M. Hicks, PA Attorney at Law

who has experience in gray divorce, and use that resource to your advantage.