With divorce comes the possibility that spousal support will be required. Many dissolving marriages in Columbus, Ohio, may be finding this unnecessary as a portion of relationships are made of spouses that both work and have similar incomes. This is not always the case though, as many do not have similar incomes while other relationships have only one income generator. These latter cases of divorce will likely include an arrangement for alimony.
Many people have been hearing of the gray divorce as of late. According to a study, the divorce rates for individuals over the age of 50 doubled between 1990 and 2010. Researchers indicate that in the past, only one in 10 divorces ended a marriage between spouses over the age of 50. Now that rate is one in four and many have been trying to discern the reasons this change came about.
Alimony is sure to be a part of such divorces, as many older couples have gotten settled in their ways and have had time to see one spouse generate more income than the other, while the other may have taken on more of a domestic role. Though this would have been particularly apparent when the children were at home, many of these gray divorces do not involve children because they are grown and have left the nest. According to reports, this empty nest can either invigorate the marriage or result in a divorce.
Researchers noted that the growing population of seniors may be a contributing factor to this increased rate. It could also be noted that more women have established careers, allowing them to free themselves from marriages they no longer want to be a part of.
For those that are involved in these divorces, acquiring legal advice before signing a settlement is a good idea. Many aging couples have a considerable amount of assets that need to be divided. An attorney can increase the likelihood of a fair value being placed on property or any spousal support that might be assessed.
Source: The Ledger, “Divorce Rate Doubled Over Past 20 Years: Factors Include Aging, Loss of Stigma and Financial Concerns,” Leslie Mann, March 8, 2013
