New Orleans is no exception to the increase in divorce seen among baby boomers. According to reports, about 25 percent of marital dissolutions involve individuals over the age of 50. With this in mind, it can be easy to see the complications that might arise. A large portion of them may arrive with the property division procedures, considering the amount of wealth many people in middle age have collected with spouses that they have spent more than a decade with. Consider this relationship and the things that happened during their divorce:
He was 23 and she was 31; he was an extrovert and she was an introvert. They were married for 18 years and had been living on his parent's land. The husband had built their house there. When they met a professor on a European cruise, they had both met a friend. But she began corresponding with him via email and found him attractive. Eventually, after counseling and a separation, the man would ask for a divorce from his wife. She and the professor moved in together some time later, and he found another woman to marry and spend his life with. During the divorce, there were several issues that if absent would have allowed the split to play out differently.
He had a mentality that treasured the idea of being married forever, something that found itself manifested in the property division process. It was then that she felt like she was being punished, possibly because of her then-platonic relationship with the professor. While she may have got the furnishings, he got the house and bought half of the jointly-owned rental properties. Looking back, the ex-husband said that he felt bad about how hard he fought for the property and that he let his emotions boil over into the proceedings.
Many boomers will divorce, just like this couple. There are a number of reasons for this, including an increased amount of income for women, allowing them to feel less financially dependent. This often makes the possibility of leaving an unsatisfying relationship a real option. But even with income, the assets of the marriage must be split and will be done according to law. Your future financial stability will rely heavily on the assets that you acquire in this matter.
Source: New York Times, "Disappointments in 'Happily Ever After'" Louise Rafkin, Sep. 19, 2013