(Globe and Mail) Rising ”˜grey divorce’ rates create financial havoc for seniors

According to Statistics Canada, “grey divorce” has been steadily growing among those 55 and over, with rates expected to increase as more people continue to age.

While marriage remains the predominant family structure in Canada, it only represents 67 per cent of Canadian families, down from 70.5 per cent a decade ago ”” and 91.6 per cent in 1961, before the advent of the Divorce Act, Statistics Canada reported Wednesday in its latest batch of 2011 census data.

And for the first time, the number of common-law families in Canada outstripped the number of single-parent families in 2011, another sign of the declining popularity of matrimony.

Read it all.

print

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Aging / the Elderly, Canada, Economy, Law & Legal Issues, Marriage & Family, Personal Finance