Family lawyers in Chicago don’t know exactly why divorce is booming among the elderly, but what is more clear is the impact these so-called “gray divorces” are having on couple’s elder care plans and finances.
The divorce of the wealthiest man in Illinois has taken a nasty turn. According to his wife, billionaire hedge fund manager Ken Griffin has banned her and the couple's children from several family homes.
As part of the divorce process, many couples in Illinois devise a written or oral agreement that outlines how marital property will be divided, how child custody and visitation will be handled and if any spousal support will be paid to either party.
According to a recent study from the National Center for Family and Marriage Research at Bowling Green State University, the divorce rate for couples over the age of 50 has more than doubled in the past 20 years.
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