Late in life divorce, also known as silver or gray divorce, is becoming increasingly frequent as the population ages. This trend is caused in part by the change in status for women over the last few decades which has allowed them the resources to cut ties with a partner without facing serious financial burdens. Greater longevity also plays a part since living with someone when only five or ten years of life remains is easier than the potential decades that couples may stay together after retirement. As the Baby Boomers retire, many expect the number of silver divorces to increase as couples realize that their relationship cannot stand the constant companionship that accompanies leaving the workforce. Because of this, estate planners should keep on an eye on the marital health of clients since the old assumption that a decades long marriage will continue to death is becoming obsolete. A late in life divorce could lead to major changes to retirement planning as well as decision making authority that has been delegated over the years on the assumption a marriage would not end until death.
See Abby Ellin, After Full Lives Together, More Older Couples Are Divorcing, New York Times, October 30, 2015.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
