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Millennials less likely to divorce than Baby Boomers

On Behalf of | Sep 27, 2018 | High Asset Divorce |

Millennials suffer from an infamous reputation of rejecting various activities and products in the U.S. However, studies of Millennials show trends that deserve analysis. They are the driving force of the country’s culture. Because most people in this age group are in their 20s and 30s, many are old enough to cohabitate, marry or divorce.

According to a recent report, the overall divorce rate is falling, although older Americans continue to see a spike in gray divorces. This data suggests that younger adults are not divorcing as often as the generations before them.

Because many Millennials also opt to marry later in life than their predecessors, experts believe they may be choosing their partners more carefully. Young adults might also tend to wait for marriage until the other aspects of life, such as their career and economic situation, are in place.

However, this finding does not mean that Millennials never divorce. In fact, this age group faces several factors that may add pressure to a relationship. For example, student loan debt and high housing costs can burden a couple with financial stress, which is a top cause of divorce across the board.

Millennials who are facing a divorce will likely make asset division their priority. Given that many Millennials struggle economically, getting a fair verdict or divorce settlement is highly important. Some spouses may also choose uncontested divorce, which can keep the costs of ending a marriage to a minimum.

Although young adults now have a lower divorce rate than older adults, divorce is no longer the same taboo it was a few decades earlier. Divorcing Millennials can benefit from things that were not available to other generations, such as the popularity of mediation, the ease of communicating with their attorney online and the social acceptance of divorce.