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Why grey divorce happens and who it impacts

The divorce rate in Texas and throughout the United States has decreased over the past 20 years. However, the rate has increased for those who are 50 and older. There are many reasons why this is the case. For instance, some couples may have stayed together simply to raise their children. Once the kids leave the house, there is no need to remain married. In some cases, a couple that used to be happy together simply grows apart.

An empty home isn't the only cause of divorce for those over the age of 50. Infidelity and addiction on the part of one or both partners could spell the end of a marriage regardless of how long it lasted. No matter why a couple chooses to end their relationship, it can have an impact on adult children or other family members.

There is also the financial side of divorce to consider. Those who didn't work or make as much money during the marriage may have a harder time transitioning to life as a single person. The process of dividing assets may also be difficult as each side will likely fight for resources that need to last them throughout their retirement. In some case, a divorce can result in a lower standard of living.

In a divorce, marital property must generally be divided between the parties to the relationship. This may occur either under rules created by the state or under the terms of an agreement negotiated before or during the marriage itself. Assets such as a 401(k) or IRA might be divided even if the account was in one spouse's name only. However, it may be possible to receive other assets in lieu of receiving a portion of a retirement account or other financial asset.

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