They say that in life, timing is everything. From Wall Street to on the field with the Dallas Cowboys to falling in love, timing can make all the difference in the world. Timing is also crucial when it comes to divorce, a recent article from Market Watch notes.
As long as we’re on the subject of time, divorce rates are at an all-time high a recent university study concluded after examining census data.
An increasing number of Baby Boomers are deciding that the timing is right for a divorce after they are financially secure, a state that typically exists later in life. According to “The Gray Divorce Revolution” study, about one out of every four people over the age of 50 has gone through or is going through a divorce. Compare that to the ratio two decades ago when just one out of every eight people over 50 divorced.
Not only are older couples in many cases financially secure, but their children are often off to college or work, making it less emotionally traumatic for the family when a split occurs.
In some situations, people wait to divorce because of health and insurance reasons. A spouse might need to remain on a health insurance policy in order to continue to get needed care.
For some people in those circumstances, they will maintain separate homes and remain married to keep a crucial health insurance policy.
For those whose time to divorce has arrived, it’s important to find a family law attorney experienced in guiding clients through an often difficult experience and complex legal process.
Source: Wall Street Journal Market Watch, “When’s the worst time to get a divorce?” Quentin Fottrell, May 24, 2014