 "What is Grey Divorce and its possible implications? Know everything here")
After years of marriage, Abhishek Bachchan and Aishwarya Rai Bachchan are making headlines as the couple arrived separately at Anant Ambani and Radhika Merchant’s wedding. Earlier, there were reports regarding the separation of Abhishek and Aishwarya.
Amidst the ongoing speculations, the actor's activity on social media has gone viral as he liked a post discussing the challenges of divorce and the rising trends of 'grey divorce'. This again sparked the discussion of whether the couple has parted ways. But many people wonder what the term 'Grey Divorce' means and what its possible implications are. Let's find out the answer in this article.
What Is 'Grey Divorce'?
Grey Divorce is a term that describes divorces that happen later in life, generally after the 50s, after the couples have spent years together. People who separate after spending such a long time together are called Silver splitters and divorcing later in life can cause financial difficulties, among many other complications.
Grey divorces are increasing rapidly. According to Pew Research Center, 40 per cent of all divorce cases in the United States in the past two decades involved individuals aged 50 or older. The rate of grey divorces doubled since 1990 and this number tripled for those over the age of 65.
Why are people separating after decades of marriage?
Shivani Misri Sadhoo, a psychologist and marriage counsellor, recently shared her insights with Zee News Digital regarding the causes and possible implications of grey divorces:
Empty Nest Syndrome: When children leave home, couples realise they no longer share any common goals or interests leading to a reevaluation of their marriage.
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Retirement: Post-retirement, the couple starts spending more time together and consequently faces differences in how they want to live their retirement age.
Increased Life Expectancy: The life expectancy rate is higher and people are living longer, hence couples find themselves growing apart over time and seek personal fulfilment in new ways.
Financial Independence: Women are more independent today as they have their own careers and all the financial resources, which provide them the means to leave an unsatisfactory marriage.
Changing Social Attitudes: Society is now accepting the concept of divorce, which is making it easier for older adults to consider this option.
Possible implications of grey divorce
The decision to separate from your partner in the later years of life comes with its challenges and things that need to be considered. Here are some possible implications of grey divorce:
Financial Impact: Dividing assets, specifically retirement funds could be a complex thing and may impact the financial security of both parties. It also considers Alimony and spousal support.
Healthcare: Older adults have great healthcare needs and divorce can complicate insurance coverage and the division of healthcare responsibilities.
Emotional Impact: Divorce at any age is emotionally problematic which is hard for older adults who might have been together for decades. The effect on adult children is also significant as they may feel a sense of family stability is lost.
Social Changes: Divorce could lead to changes in social circles, as friends and family may start taking sides or feel awkward around newly single individuals. Resultantly, new single might start feeling loneliness and need to build a new social network
Lifestyle Adjustments: Changes in living arrangements, like leaving a family home could be stressful and would take some time to adjust. Hence managing a single life in older age is complicated.
Legal Considerations: Divorce in later life could be exhausting as the couple has to undergo several legal aspects like updating wills, beneficial designations, and power of attorney with due respect to one's wishes and making sure assets are being protected.