Grey Divorce Rates Continue to Rise

Divorce rates across the board have been going up, as couples who have spent the stressful pandemic together start to part ways. However, they are rising in one surprising group in particular—couples over 50. Many of these adults found new ways of thinking about the world and their lives in the wake of the unique consequences of the pandemic, and some found themselves unwilling to sacrifice more time with someone who no longer makes them happy. Since 1990, the divorce rate for couples who are 50 years or older has doubled, and it is still rising.

The Challenges of Divorce

There are unique challenges that can occur when older adults get divorced, particularly for women. Women are more likely to face financial challenges after divorce and men are more likely to suffer socially. Studies show that women typically have lower career earnings than men, have less saved at the start of retirement than men and live longer than men. This can present unique challenges when transitioning to a single income as an adult. Both spouses should work with a financial advisor to ensure they understand the full impact of divorce on their savings and financial outlook. 

Splitting Assets Can Become More Complicated

Divorcing later in life is often more complex because older adults tend to have more assets that need to be divided and handled. A grey divorce can include changing beneficiaries on policies, retirement benefits, Medicare benefits, support obligations and more. Thankfully, if a couple has been married for over 10 years and one spouse was fully insured for Social Security benefits, the ex-spouse is eligible for an amount equal to half of the ex-spouse’s benefit without reducing their benefit.

Making Grey Divorce Easier

One of the best ways to make grey divorce easier is with help from the professionals at Senior Care Lifestyles and professional mediators. Talking through things out of court can lead to better outcomes in court and ensure that both parties are ready to start anew.

Protect Your Loved Ones with Senior Care Lifestyles

Senior Care Lifestyles specializes in connecting seniors with the right in-home care, assisted living, or senior living community to meet their needs. We have helped hundreds of clients and treat each senior as a valued member of our own family deserving our personalized attention, compassion and respect.

For help, or questions please call us at 410-977-3718 or send a message through our website www.seniorcarelifestyles.com.

Deborah Bakalich, Certified Senior Advisor®
Deborah Bakalich, Certified Senior Advisor®
Owner, Certified Senior Advisor (CSA®) & Assisted Living Placement Specialist - Senior Care Lifestyles, LLC provides compassion, guidance and recommendations to families faced with transitioning a loved one into Assisted Living, Dementia/Alzheimer’s Care, Skilled Nursing, Temporary Respite Care or a Continuous Care Retirement Community. Senior Care Lifestyles was founded in 2014 by Deborah Bakalich, a Certified Senior Advisor and graduate from both Towson University and Stevenson. Senior Care Lifestyles is uniquely positioned as a local (not National) Maryland based placement firm familiar with Maryland senior care facilities and in-state financial assistance programs for senior residents. They meet personally with each family to understand the seniors care needs including medical, personal lifestyle preferences, budget, religion and desired geographic location. They pride themselves in locally guiding and educating families through the entire maze of senior living options available and will schedule tours on behalf of the family and accompany the family on visits of communities. They are passionate and committed to finding the perfect match to call home and stays with the family throughout the entire process, every step of the way, until a decision is made, and the senior is safely moved into their new home. Senior Care Lifestyles can also provide the family with trustworthy, vetted, and reputable experts to assist with the transition for organizing, packing, moving, sale of real estate, estate planning, legal services, and determining eligibility for State, Federal and Veterans Benefits to assist with care costs. Deborah is a proud member of the Maryland Senior Resource Network (MSRN) where she has served as Vice President on the Board of Directors. She is a member of the Alzheimer’s Organization, Society of Certified Senior Advisors, Mid-Atlantic Network Group and a member of the Business Opportunity Network (BON).

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