Baby boomer splits — known as gray divorces — on the rise

Actors Danny DeVito and Rhea Perlman recently announced they are parting ways after a 30-year marriage. While the announcement surprised some, research by Bowling Green State University suggests the couple’s split may be part of a growing trend. Over the last 20 years, the divorce rate for couples age 50 and over has increased more than 100 percent. Experts say a number of factors are leading to the increase in these so-called gray divorces.

While older couples divorce for many of the same reasons as younger couples — infidelity, for example — other factors come into play as a couple ages. By the time a couple reaches age 50, their children often are grown. When they no longer have the joint goal of raising a family, a couple may find they no longer share common values and interests. Unlike their parents and grandparents who often married because society expected them to, baby boomers married for personal fulfillment. Once they realize the marriage no longer makes them happy, they are less inclined to stay.

Another factor in gray divorces is the increased economic independence of women over age 50. A woman who has been in the workforce for a number of years has sufficient resources to support herself. She is not afraid to leave an unhappy marriage.

Divorce at any age is difficult. While empty nesters may not have child support and custody issues, property division often is more complicated because of the large number of assets a couple has acquired over time. A high-asset divorce requires valuation of things like business interests, pensions and second homes. An experienced divorce attorney can aid in this process.

Source: CBS This Morning, “‘Gray divorces’ increasing sharply,” Oct. 13, 2012