You and your partner are getting married. Do you need a prenuptial agreement? You might. For both LGBTQ and straight couples, getting married automatically creates certain legal rights and obligations between you and your spouse concerning “marital property.”
Although nationwide marriage equality only began with the 2015 Obergefell v. Hodges Supreme Court decision, divorce among LGBTQ couples does happen. Divorce between any couple is one of the most painful transitions confronted in a lifetime; but with LGBTQ couples, this process can be particularly challenging.
For every 1,000 married Baby Boomers — defined as those ages 51 to 69 — 10 divorced in 2015 (pewrsr.ch/2mCxUfa), which increased from 5 in 1990. The increased rate of divorce amongst Baby Boomers has even been given a trendy name: “gray divorce” (bit.ly/2sEDbpj). However, according to the Williams Institute on Sexual Orientation and Gender Identity Law and Public Policy, the divorce rate of same-sex couples is statistically lower than opposite-sex couples. The data shows same-sex couples divorced at an average rate of 1.1 percent annually, compared with 2 percent (bit.ly/1ssHfae) annually between opposite-sex couples. So, what does this mean for “gay and gray divorce?”