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5 Tax Tips for Recently Divorced and Retired (Gray Divorce)

‘Gray divorce’ is on the increase. 

A ‘gray divorce’ refers to when partners in excess of the age of 50 close their relationship. And though the divorce price in some age groups has flattened in the latest a long time the quantities are grimmer for older couples.  There are some experiences that say divorces over the age of 65 have tripled in the last 25 several years.

We’ve observed illustrations of this participate in out in real-time on social media.  In Might 2021,  Microsoft ( (MSFT) – Get Microsoft Company Report) founder Monthly bill Gates and his spouse Melinda declared that they were ending their 27-calendar year marriage. Soon after 25 a long time of marriage, Amazon’s ( (AMZN) – Get Amazon.com, Inc. Report) founder and former CEO Jeff Bezos and his wife McKenzie divorced in 2019.