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Why more divorcees may consider prenups

If you have noticed the increase in advertisements for Internet dating sites for baby boomers and other older Americans, you are probably not alone. The number of divorces involving older Americans, dubbed “gray divorces” have increased over the last two decades. This means that the number of “gray romances” has also increased.

Essentially, more people are developing romances in their golden years after setting a long-term marriage aside. Of course, the idea of older parents dating may make children of such marriages cringe, it is indicative a larger societal shift. However, the old adage, “the more things change the more they stay the same” may also apply here too. People in their 60’s and older love a romance just as much as 20 year-olds.

At this age, however, the financial aspect may be substantially different, and it is important that decisions be made prudently. After all, love can make people do pretty strange things, so it may not be surprising that a beau offers to pay off an existing mortgage in order to win someone’s heart.

As such, baby boomers who are considering marriage, or even to being living together, may want to consider a prenuptial agreement, or at least a cohabitation agreement in order to set expectations for themselves in the event the relationship goes south. Indeed, these agreements may not be the epitome of romance, but it helps to add some protection for people in vulnerable positions with a great deal to lose.

In the meantime, don’t be surprised if you here more stories about the latest “mature” dating app.

Source: “Old age divorce records may have baby boomers reworking their game,” May 15, 2014

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