By Rich Gordon, J.D./Founder–A Fair Way Mediation Center
Aging Americans: Boomers are the fastest growing age group in the U.S. Americans 65 and older represent 14.5% of our population, and that number is expected to rise to 20% by 2030 when the youngest boomers turn 65.
Long Lives, Long Marriages: While long marriages are great for some people, they may not be for others. Research shows the divorce rate for U.S. adults aged 50 and older has doubled since the 1990s.
Divorce as an Opportunity: Divorce after many years of marriage may represent an opportunity to get out of a marriage that has gone stale or become abusive. People often stay in a bad marriage because of the children, so when the children have moved on to lives of their own, parents feel more free to leave a marriage. Recognizing that they may live for many more years, they aren’t willing to stay in a bad situation. As many women now have careers of their own, they no longer need to rely on a husband for financial stability. For both women and men divorce is often seen as freedom from conflict and a new lease on life.
Risks to Consider: Change often comes with risk. Divorce often requires many lifestyle changes. Division of a longtime household can be complex. An experienced mediator can help you evaluate your situation and lead you to a mutually satisfying resolution. Here are a few issues to consider:
Determine how much money each partner needs for financial stability. Often one spouse has a higher income than the other. If the loss of the higher income puts a financial burden on the other spouse, spousal support may be a possibility.
Home ownership is a valuable asset. Partners may want to sell and divide equity, or one may want to stay in the house.
Often in marriage finances are shared. How will you split them up? Retirement accounts, social security, health insurance, investment accounts, properties and debt may all be part of your marriage.
All issues of divorce require careful consideration and sometimes couples need an unbiased third-party mediator to help resolve issues. After spending a lifetime together, wouldn’t it be better to end it positively? Mediation leads the way to a positive ending.
Contact A Fair Way Mediation to receive a free 30-minute phone consultation: visit www.afairway.com or call 760-803-4522.