Jump to Navigation
Texas divorce after age 50 becoming more common

Wednesday, July 18, 2018

Many older couples may assume that their marriages will last. However, recent statistics show that some of the divorce rates are increasing. A Texas divorce later in life can have some serious implications in financial planning.

The National Center for Family and Marriage Research states that between 1990 and 2014, the divorce rate doubled for adults over 50. During that same time period, the rate tripled for adults over age 65. The rates are growing to the point where the trend is actually referred to as "gray divorce."

Those facing these circumstances will typically want to first determine if they can live on the assets they will have after a divorce is final. Financial experts suggest selling the family home since that's typically where a family's wealth is invested. It is also important to make sure any beneficiary designations are changed on retirement accounts. Finally, it is critical for everyone to understand financial basics. If one spouse had never handled the finances in the marriage before, it would be difficult for them to have that burden thrust upon them with no previous experience.

It is critical for anyone going through a Texas divorce to protect his or her assets and make sound financial decisions for the future. Many involved in divorce proceedings turn to an experienced divorce attorney for advice. A knowledgeable lawyer can help someone analyze a specific situation and determine the appropriate course of action to take. Strong counsel will act in the client's best interests to assist and guide them in the divorce process.

Source: CNBC, "Surviving divorce after 50", Katie Young, March 2, 2017

No Comments

Leave a comment
Comment Information
FindLaw Network

We Can Help You, Contact Us Today! Saturday Morning Appointments Available

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Our Office Location

Law Office of Douglas C. Smith
10514 Montwood Drive
El Paso, TX 79935

El Paso Law Office Map

Review Us