Tiyce & Lawyers Principal Michael Tiyce features in an article in The Senior this week on the rising trend of “grey divorce” – separations among over-50s – and examines why more Australians in this age group are choosing to part ways, often amicably, as societal attitudes shift and longevity increases.
The Growing Trend
According to Australian Institute of Family Studies data, people married for over 20 years represented more than a quarter of all divorces in 2021, with grey divorces accounting for approximately a third of all divorces in Australia.
Michael has observed this increase firsthand and attributes it to changing social attitudes and increased life expectancy. “Nowadays, people are more content with the idea of separating if they’re not happy [and] potentially moving on to or with another partner,” he said, noting that divorce among older Australians is becoming “less taboo.”
Financial Considerations in Later-Life Separations
One advantage for couples separating later in life, Michael explained, is that many have already accumulated their wealth, which can make property settlements more straightforward. “It will be relatively straightforward, in most cases, in a long marriage … where the property settlement is going to fall,” he noted.
However, Michael identified one key consideration that can complicate grey divorces: “If people are separating older, it might be that one person has a greater need than the other,” particularly when health issues are involved.
The Path to Amicable Resolution
For couples whose separation becomes contentious, Michael’s advice is clear: mediation should always be the first option. “It’s a lot cheaper too,” he added, emphasising both the financial and emotional benefits of resolving disputes outside of court.
The article highlights that many older couples, particularly those in their 60s and 70s who have shared decades together, seek amicable separations to preserve family relationships and continue participating in occasions with children and grandchildren – a testament to the possibility of redefining relationships rather than viewing divorce as failure.
Read the full article here: https://www.thesenior.com.au/story/9128649/grey-divorce-financial-issues-splitting-super-and-assets
