Gray divorce refers to divorce after age 50. It is rapidly becoming more common in the U.S. and abroad. Since 1990, the divorce rate of this group has doubled, and researchers predict it will increase by a third by 2030.
I (Carol Hughes) spoke with Brian Don Levy, a California family law and estate planning attorney, about how parents of gray divorce can provide clarity and peace of mind for their adult children. He shared the following information.
When families restructure through a divorce process, it can provide a unique opportunity for some clients to use the same financial information gathered within a divorce process to create an estate plan. This gives you, the divorcing spouse, the opportunity to take responsibility for your own life decisions while relieving your adult children from the burden of problem-solving for you, should you lack legal capacity in the future.