On behalf of Cooper, Tanis & Armas, P.C. posted in divorce on Monday, June 20, 2016.
According to a professor from the University of Maryland, nearly 53 percent of all marriages will fail. This runs counter to the recent findings that the divorce rate may be holding steady or declining. Data suggests that the rate of divorce among younger people may be falling as they wait longer to get married or don’t marry at all. It is also possible that those who get divorced once simply don’t marry again.
Between 1940 and 1970, the average age of a bride was roughly 20 years old. Today, the average woman is 27 when she marries for the first time. While younger people are getting more selective about when, if and who to marry, those who are 55 and older divorced in 2012 at double the rate that they did in 1990. Of those age 65 and older, their divorce rate tripled between 1990 and 2012.
Some reasons include states making divorce easier and women having more financial independence as they make gains in the workplace. It is also suggested that baby boomers are living longer and simply want to make the most of that time. Those who study marriage trends cannot yet be sure if younger people are going to divorce at similar rates as the average first marriage lasts for 12 years before failing.
In a divorce, it may be necessary for both parties to talk about debt and property division. Older couples may need to discuss how they will divide money inside of retirement accounts or other property such as a marital home. As the process can be complex, each party should have the assistance of separate attorneys when attempting to reach a settlement.