ARE YOU AT RISK FOR GRAY DIVORCE?
The divorce rate in the U.S. has been climbing within the population for the past 25 years; however, recently the trend has increased even higher in the post-midlife population segment. Researchers at Bowling Green University in 2012 found the divorce rate for the U.S. population over 50 doubled in the past two decades and more than doubled for those over 65 giving rise to the term “gray divorce revolution.”
Divorce can be complicated enough; however, couples that are nearing or into their retirement years face added challenges in addition to what to do with the marital home and the intertwining of the finances. There are also complex issues regarding retirement pensions, social security, investments and so on that in dividing could, in some cases, incur substantial tax liabilities.
For those couples divorcing in the high net worth category there are potentially even greater challenges with multiple properties both stateside and overseas, business ownership interests, offshore accounts, significant investment portfolios and more.
For this reason, we strongly suggest that couples that find themselves divorcing in their later years hire an attorney that specializes in later year divorces and high net worth divorces, in addition to a Realtor that specializes in both divorce and senior real estate.
Geni Manning is a Senior Real Estate Specialist (SRES) with the knowledge and expertise to counsel clients age 50+ through major financial and lifestyle transitions in relocating, refinancing or selling the family home, but also is trained and experienced in helping couples through divorce. See Our Credentials.
If you are considering, or are going through, a divorce, pick up a FREE copy of Geni's latest book entitled "Surviving Divorce Your House and Your Money"
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