Divorce is increasingly common in today's social landscape, and lots of emphasis and attention is rightfully placed upon the best interests of children. Child custody is a primary issue for divorcing couples and sometimes becomes very contentious. However, often overlooked in the child custody and visitation scenario are the children's grandparents.
Divorcing past the age of 50 can have a major impact on the economic well-being of spouses in New York and across the country. While the financial impacts of divorce can outstrip the emotional concerns for people facing the end of a marriage at any stage of life, these issues can be exacerbated among couples who make the decision to divorce later in life. This is particularly the case as the two spouses have significantly less time to stage a financial recovery from the expenses and asset division that accompany divorce. Retirement funds that were accumulated to provide for both spouses in one household will now need to be divided and support two separate lives and the mounting expenses that accompany them.
The number of marriages that end in divorce is actually lower in New York than a majority of the rest of the country. As of 2016, New York's divorce rate was the lowest is has been in 35 years.
New York lovers headed for marriage may consider making contingency plans in case of divorce a bad omen, but the simple truth is that a substantial percentage of marriages end in divorce. Planning can limit acrimony and prove beneficial in ways unrelated to marital dissolution.