Grey divorce - Separating and new relationships later in life

Separation later in life, commonly known as ‘grey divorce’, is a choice more
Australians are making as they seek fulfillment and independence in their later
years. It often occurs after 20 or more years of marriage, typically in people’s
50s or 60s. While a long-term separation can feel daunting, it is also an
opportunity to realign your life with your values and embrace a new chapter.

Australia’s divorce statistics reflect this trend. The Australian Bureau of Statistics
reports that the median length of marriage at divorce has risen slightly to 13
years, up from 12.8 years. The median age of divorce is also getting older; 47.1
years for men (up from 46.7) and 44.1 years for women (up from 43.7). These
figures highlight what many already know from experience: more couples are
making the decision to start over well into middle age and beyond.

Far from being seen as a failure, later-life separation is increasingly understood
as a courageous choice to prioritise happiness, wellbeing, and autonomy.

Taking Superannuation seriously

One of the most important considerations during a grey divorce is superannuation. At this stage of life, retirement is closer, and there is less time to rebuild financial security.

• Superannuation is treated as property under family law and can be divided fairly in a settlement.
• Even if one partner has accumulated more super while the other contributed to the family in non-financial ways, both contributions are valued.
• Addressing superannuation carefully ensures both parties have a solid foundation for retirement.

Ensuring superannuation is given the attention it deserves can make this stage of transition far less stressful and far more empowering.

Asset protection with future relationships

Many who divorce later in life eventually enter new relationships. Love and companionship are still very much part of life’s journey, but it’s understandable to want to protect the assets and financial future you have built.

• A Binding Financial Agreement (BFA) allows couples to outline how assets, including super, will be divided if the relationship ends.
• It protects property acquired before the relationship, as well as inheritances or financial resources intended for children.
• Having a financial agreement in place provides peace of mind so you can focus on building a relationship based on connection, not financial worry.

Renewing your goals and future planning

While separation after decades together can be emotionally taxing, many people who experience it rediscover themselves in ways they never imagined. From pursuing new interests to travelling, reconnecting with friends, or even rediscovering love, grey divorce can be a beginning rather than an ending.

Practical planning, particularly around finances, super, and agreements for the future, helps transform this period of change into one of empowerment. We can refer you to experienced financial advisors and planners if you do not already have or know one.

Strategies for asset protection in the event of death differ to the documents required to protect assets from a relationship breakdown or in the event of separation. We also know some great estate planning lawyers in town who can assist you to plan for where your assets go on your death.

Moving Forward

Grey divorce is on the rise, but the story behind the statistics is one of courage and reinvention.

By understanding the importance of superannuation, planning for future relationships, and embracing the opportunities ahead, it is possible to move forward not only with security, but also with hope and confidence in the next stage of life.

We can help advise you about what to prioritise during this important life stage. Speak to one of our lawyers if you want to know more.