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50 OR OLDER? -

50 OR OLDER? - "EMPTY-NEST DIVORCE" ON THE RISE

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A new phenomenon called “empty-nest divorce” is sweeping the nation. Empty-nest divorce refers to couples that rediscover themselves after their children move, grow up and move out. When the kids leave home, couples find themselves together at last! – only to realize the connection they once had with their spouse is no longer there. The divorce rate for people 50 or older has doubled while the overall divorce rate has slowly dissipated.

While child custody isn’t always a topic of discussion with empty-nest divorce (since the kids have likely moved out), the children should still remain a consideration. Plans for visitation of the grandkids, birthdays and holidays should still be considered. Beyond custody arrangements, another issue to be decided surrounds finances. While together, it is likely the couple shared a joint bank account. It is also likely some parents helped or are helping to pay for their children’s college education. When divorcing, it needs to be decided how those finances will be split and shared. Retirement and 401(k) accounts will also be considered in the split. Couples may try mediation to try and work out these issues, before retaining an attorney, but it is always a good idea consult with an attorney before agreeing to any terms.

Call Rech Law, P.C. today at (704) 659-0007for guidance on Divorce.

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