Margaret Gettle Washburn, P.C.
(770) 676-1191
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The effects of divorce on older people

While many may disagree about the overall divorce rate, it is generally accepted that the divorce rate among those over the age of 50 is increasing. This phenomenon is known as gray divorce, and statistics revealthat the divorce rate among those over 50 doubled between 1990 and 2010. Although any divorce may be difficult, doing later in life may be harder for Georgia couples because there is less time to recover financially from such a drastic change.

Those who stayed at home to care for children during the course of a marriage may struggle more than most. This is because they may not have the skills or experience to get a job. Furthermore, a lack of experience may limit how much an individual could command on the job market. This may explain why 27 percent of older divorced women live in poverty compared to 11 percent of older divorced men.

To protect against potential financial issues after a divorce, individuals are encouraged to set aside money in an account that the other spouse can't get to. It is also advised that each party to a marriage establish a credit history in their own names. It is also important to maintain an IRA or some sort of account that can help pay for expenses in retirement.

The end of a marriage can be hard both emotionally and financially. This is why it may be a good idea to talk to a family law attorney prior to getting divorced. Legal counsel can help take an accurate inventory of marital assets and resolve issues related to spousal support if applicable.

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Margaret Gettle Washburn, P.C.
4799 Sugarloaf Pkwy
Building J
Lawrenceville, GA 30044

Phone: 770-676-1191
Fax: 770-963-2828
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