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Older divorces likely to have more assets

The Baby Boomers are now over the age of 50. When they were young adults, experts say they caused an upturn in the number of divorces, spiking the divorce rate. Then, many were concerned about the effects this would have on the children belonging to this well-known generation. Now, many are interested in the effects that are caused by a continued trend of divorce in Baby Boomers. Property division is likely more contentious because many older individuals in Louisiana, and elsewhere, have more assets.

This is one of the reasons behind a recently published study, to determine what kind of trend has cropped up. According to that study, the divorce rate among people over the age of 50 has been increasing for the past two decades. Now that the Baby Boomers are in this age range, some are citing their history of divorce as a reason for this increase.

Researchers with the study found that the divorce rate has doubled since 1990. That year, the divorce rate among people over the age of 50 was 4.9 divorces per 1,000 married individuals. In 2010, that rate was 10 per 1,000. More people are 50 years or older now than there were in 1990 too. Statistics show that 200,000 got divorced two decades ago and 600,000 got divorced in 2010. At the same time, the national divorce rate dropped from 19 per 1,000 in 1990 to 18 per 1,000 in 2010.

With so many older people divorcing, arguments during the divorce process are likely. This is not because of their age but because of the increased likelihood that they possess many assets. Depending on the length of the marriage and the presence of a prenuptial agreement, the ownership of these items can come into question. Those couples that elect to implement a prenup can keep their personal assets to themselves if a divorce occurs.

Source: Huffington Post, "Are Baby Boomers Still Pushing Up the Divorce Rate?," Robert Hughes, Jr., Nov. 2, 2012

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