Grey Divorces and How to Navigate Them

1. “Grey” Divorces and How to Navigate Them A “grey” divorce is the colloquial term referring to the increasing rate of older couples divorcing after a long-term marriage. Such divorces are referred to as “grey” in reference to hair colour and are also known as “silver splitters.” The term was coined following the noted recent increase in older adults divorcing. In fact, a 2012 study published in TheJournals of Gerontology: Series B, Psychological Sciences and Social Sciences showed that the divorce rate among adults 50 and older doubled between 1990 and 20101. While it is not clear why grey divorces are becoming more common, some theorize that the parties feel that with time, they have drifted further apart, they feel they have spent too long with the wrong person, or they are ready for a new chapter in their retirement. While all divorces come with challenges, grey divorces can bring extra difficulties. Studies have shown that when older adults divorce, most do not remarry, which can increase the risk of social isolation, loneliness, and financial struggles. Moreover, while the rules of family patrimony will apply to most marriages in Quebec, it is important to note that if a couple was married before 1989, the rules of family patrimony may not apply. When navigating a grey divorce, you should pay particular attention to certain elements of your marriage dissolution. For example, the partition of your retirement assets such as public and private pension plans and/or investments may be particularly relevant. Spousal support can also be an important consideration following the end of a long-term marriage. Age has an impact on spousal support, with respect to how close or far you or your spouse are from retirement. This can determine whether you would opt for a lump

2. sum settlement or monthly support payments. Moreover, while not strictly family law, we always recommend considering amending your Will. If you are a silver splitter, it is important to have a consultation with a family lawyer that you trust to be fully informed of your rights and obligations as you enter your next chapter. Please know that we at Spunt & Carin are here to answer any questions you have and are happy to help. 1 Brown, S. L., & Lin, I.-F. (2012). The gray divorce revolution: Rising divorce among middle-aged and older adults, 1990–2010. The Journals of Gerontology: Series B, Psychological Sciences and Social Sciences, 67(6), 731–741. https://doi.org/10.1093/geronb/gbs089. Source URL - https://www.spuntcarin.com/grey-divorces-and-how-to-navigate-them/