- Divorce after 20 years or more is a complex undertaking with a lot at stake.
- There's very little guidance on how things should be divided and decided and both family and financial dynamics will play key roles in how you move forward.
- Here's what you can do to understand the issues you'll be facing and plan a smart course of action to preserve wealth and minimize legal bills if you're divorcing after 20 years or more.
If you've decided to divorce after 20 years or longer, you're probably feeling very alone. Like you're the only couple in the world facing divorce after 50.
But despite what you hear about the falling divorce rate, getting divorced after 20 years of marriage - even after 25 and 30 years for that matter, is not only common these days, but it's on the rise.
According to Bowling Green University's National Center for Family & Marriage Research, from 1990 to 2012, the divorce rate for 55 to 64-year-olds more than doubled, while the rate of divorce for the 65 and older population tripled!
There are many reasons for a divorce at midlife - also known as gray divorce.
But regardless of why couples are choosing to divorce after staying together for so many years, it’s important to understand that divorce in a long-term marriage is markedly different and much more complicated than divorce after 10 years or less.
Let's take a closer look at how divorcing after 20 years of marriage (or more) can impact the specific financial, emotional and parental issues you'll face as you go through your divorce.