Posted on March 23, 2014 in Gray Divorce

Has divorce become another rite of passage for older Americans in the baby boomer generation? New research suggests that Americans over the age of 50 are twice as likely to get divorced as people of that age were two decades ago.

Older individuals might have their own unique challenges in the divorce process: ending a marriage after many years of routines and grown children can be difficult. Family get-togethers with grandchildren might feel uncomfortable or a spouse might have to adjust to managing household finances that they have never done before. For some older people, being lonely is a common feeling reported by gray divorcees.

One of the most common challenges for those considering divorce in the baby boomer generation is the concept of drifting apart. After several decades together, couples might be headed in different directions. As older children leave the house to pursue education or careers, this gap might be more pronounced, leading couples to go their separate ways.

Continue Reading ››

 Posted on March 15, 2014 in Finances & Divorce

A new study from the National Endowment for Financial Education states that one in three couples is committing financial infidelity in their marriage. Financial infidelity can range from hidden credit card spending to secret receipts for big expenses. The key factor in the financial infidelity, though, is the intent to hide this behavior from their spouse. And this behavior can eventually result in marital tension or even divorce.

In the NEFE study, more than three-quarters of all respondents mentioned that “financial cheating” had hurt their relationship with their spouse. When the impact of financial infidelity reaches deep, all trust can be lost, especially when a spouse reveals a big gambling addiction or other financial obligation. At this point, it is very difficult to save the marriage and it leads couples to consult divorce attorneys.

Continue Reading ››