The process of getting divorced can understandably be devastating emotionally and financially. However, this family law process can especially be tough for those over the age of 50 in Texas and elsewhere. Unfortunately, the divorce rate for those over 50 is now double what it was back in 1990.
Research shows that divorce after 50, or gray divorce, can be hazardous to both a person’s physical and emotional health. For example, people who get divorced later in life may experience depression and higher blood pressure compared with their married counterparts. Research has also shown that getting divorced can lead to weight gain long term.
The effects of divorce on older individuals’ financial situations are also profound. For example, research indicates that a person’s wealth could easily drop by half if he or she gets divorced late in life. Furthermore, women in particular often experience a drastic drop in their standards of living when they go through divorce after age 50. The reason for this is that following a late-in-life divorce, an individual does not have much time to bounce back from the financial damage that divorce may cause.
Although divorce can certainly be difficult to cope with in one’s older years, it can be hard to deal with at any age. The good news is that a family law attorney can help a divorcing spouse to tackle divorce issues like property division and spousal maintenance in the most personally beneficial manner possible. The attorney’s aim is to protect the client’s financial best interests whether he or she pursues a settlement outside of court or ends up going to trial in Texas.