Many people in Illinois choose to file for divorce over financial issues. According to research by the Federal Reserve Board, a large difference in incomes between spouses is associated with a higher risk of divorce within the first five years of marriage.
Starting over can be a challenge for anyone ending a marriage in Illinois. However, the difficulties are often greater for older adults. It's an increasingly common occurrence since the divorce rate among adults 50 and over has doubled since the 1990s. Some so-called "gray divorces" do involve second marriages or unions of a short duration. However, it's not uncommon for knots to be untied after many years together. This could mean having to make decisions about jointly owned accounts, investments and savings.