Over the past few decades, the demographics of divorce have changed in the United States. While the general trend shows a decline in dissolved marriages, the numbers are starkly different for people aged 50 and above. The incidence of “gray divorce” is said to be approximately three times as high as it was in 1990. 

Many factors have been cited to explain the rise in gray divorce. Improved healthcare and longer lifespans have led people middle-aged and older to focus on improving the quality of the years ahead. Where previous generations frequently attached a stigma to divorce, modern Americans are more likely to accept that even long marriages can reach a point where the relationship is no longer working. Individuals 50 and older are also less likely to have minor sons and daughters at home, so they do not have to address issues of child custody and support during the divorce process. 

Though parenting arrangements might not be required, there are several issues that should be of particular interest to spouses in their 50s, 60s and 70s if they are approaching divorce. Property division might require the unwinding of financial ties established over decades. Individuals nearing retirement age must make sure that they collect their fair share of assets such as pension credits, 401(k) accounts and Social Security benefits. 

Dividing retirement plans often requires a Qualified Domestic Relations Order (QDRO) to transfer funds without incurring additional taxes or early withdrawal penalties. If one party relied on the other for income during the marriage, substantial maintenance might be warranted. It can be very difficult for a newly divorced person to earn the salary they need to support themselves after decades taking care of the household. 

Health insurance is another urgent concern. After divorce, a dependent spouse usually loses coverage under the other’s plan but may continue it through COBRA—commonly up to 36 months—though premiums can be high. Working with a qualified lawyer can help you negotiate for a resolution that addresses premiums for health and long-term care coverage.   

Anker Law Group in Rapid City handles divorce proceedings for South Dakota residents, providing personalized attention in every case. For a consultation regarding your particular circumstances and objectives, please call 605-519-5967 or contact us online.