Today, roughly one in four divorces involve those over age 50, and the trend has garnered its own nickname: “Gray divorce.” The divorce rates for this demographic have doubled in the past 30 years and tripled for those over 65, according a study. According to Bloomberg.
According to Bloomberg.com the standard of living for women drops by some 45 percent, and roughly 21 percent for men. Given the significant decrease in income and the fact people are living longer, it’s no surprise that many folks choose to remarry.
And those who do get remarried bring children from previous marriages into the new union, increasing the number of blended families. Regardless of age or marital status, all adults over age 18 should have some basic estate planning, but for those with blended families, estate planning is particularly vital.
