Is 60 the new 40?
If we follow the guideposts reflected in pop culture, the answer is a resounding “yes.” The new face of MAC Cosmetics is a 90-year-old woman. Christopher Plummer won this year’s best supporting actor Academy Award for his role in Beginners, in which he portrayed a a 70-year-old man who reveals that he is gay following the death of his wife. Online dating services such as Gray Date and Our Time are emerging for singles 50 and up. This could be because the phenomenon of couples divorcing after the age of 50 has grown exponentially in the past two decades.
In my own mediation and law practice, I am seeing a definite trend towards what is known as “Gray” Divorce. While the overall divorce rate has gotten lower, according to Gray Divorce and Remarriage, “Boomers, born between 1946 and 1964 already have a divorce rate triple that of their parents.”
Late-life divorces can occur for many of the same reasons that they occur in younger couples including economic issues, lack of intimacy and substance abuse. Interestingly, however, a recent Wall Street Journal article entitled The Gray Divorces explains that infidelity is not a major factor in late-life divorce and that seems to be the case among my clients as well.
A key factor in the rise in these divorces is the increased financial independence of women. A recent study by American Association of Retired Persons (AARP) reported that 66 percent of the divorces studied were initiated by the wife. One reason for this is that women over 50 are more likely to have their own careers and be more financially independent from their husbands than were women of previous generations. I hear many clients explain that they were unhappy for many years, but they stayed together until they knew their children were well settled in their own lives. These clients have often lost an emotional connection to their spouse but are not necessarily angry; they are simply seeking a more fulfilling quality of life as they look at the next 20 or 30 years ahead.
Untangling the tapestry of any marriage brings about legal, financial and emotional challenges, but the issues faced in late-life divorces can be even more challenging. In the coming weeks, I will discuss the unique issues that older couples face when divorcing and how well mediation and the collaborative divorce process meet the needs of these parties.
Additionally, on March 29 from 5:30-7:30 p.m., I will be conducting a workshop Navigating Your Divorce With Dignity in conjunction with Certified Financial Planner and Divorce Financial Analyst Ivy Menchel and and Certified Divorce Coach Karen McMahon. There is no charge, but seating is limited. Please contact me for details.