There is no specific definition for gray divorce, but it generally refers to couples who are a bit older or at a later stage in their lives. One key division could be saying that gray divorce applies to couples over 45, for instance.
When you look at historical records of divorce rates, you can see that this is becoming more common. The divorce rate is not the same for all age groups, as those under 45 have actually seen their divorce rate go down, while those over 45 have watched theirs go up.
The most pronounced increase is actually for couples over 65 years old. When comparing rates in the 2020s to those in the 1990s, researchers find that the divorce rate has roughly tripled in three decades.
Financial matters in divorce cases
Gray divorce cases are often much different than those involving younger spouses. There is sometimes a greater focus on financial assets or the division of marital property.
After all, if a couple is getting divorced in their 60s, the odds are fairly high that any children they have are already adults themselves. If they do not have minor children, they do not have to split up physical or legal custody.
Because these couples are older, they have had more time to purchase shared assets. They also have to think about long-term financial stability and issues like retirement planning or investing.
Addressing a complicated divorce
Because gray divorce is growing more common, it is critical that couples understand how these cases can be complex, especially from a financial perspective. Those who are dealing with property division and other aspects of divorce benefit from having experienced legal guidance.