Rolling Stone reported that Neil Young, 68, filed divorce papers on July 29th in his hometown of San Mateo, California.
Neil met Pegi in diner near his ranch where she worked as a waitress in 1974, four years later the two married and had two children, a daughter and a son. She became his muse, inspiring hit songs like “Unknown Legend” and “Once an Angel”, according to Rolling Stone.
The two began collaborating on his music projects, serving as one of her husband’s backup singers for a number of years before branching out into solo projects. Pegi tours regularly, sometimes with Neil on guitar.
In addition to their musical collaborations Neil and Pegi founded the Bridge School which is offers educational opportunities to children suffering from physical disabilities. Their son suffers from cerebral palsy.
Over the past the above 50 set has been leading the pack in regards to divorce statistics. A study from last year, conducted by the Bowling Green State University’s National Center for Marriage and Family Research, found that between 1990 and 2010, the divorce rate for seniors aged 50 and above doubled.
Lead researcher Susan Brown told the Chicago Tribune, “This surprised us, because the rate for younger people has leveled off. In 1990, only 1 in 10 divorces were people 50 and older. Now it’s 1 in 4.”
Seniors even divorce at a higher rate than men and women who are marry a second or third time.
According to the study, demographics played a role in the divorce rates, as well. Researchers found that elderly African-American couples divorced at the highest rate, followed by Latinos, Whites and Asians, according to the Chicago Tribune.
Older couples with less education and unemployed seniors also had a higher divorce rate. This rings true for younger couples too.
But a grey divorce presents different issues for an older couple. While an older divorcing couple won’t have to worry about custody arrangements and child support, they do face a number of financial challenges. Even though modern seniors are working well past their retirement age, the may not enjoy the financially If they are receiving social security benefits or have a retirement fund, these will need to be divided between the two divorcing parties.
For older and younger couples alike, their homes represent the majority of their wealth, and decide what to do about the marital home can be complicated. The spouse remaining the home may have to buyout their spouse or the home may have to be sold. Before making a couple makes any choices in this regard, they need the advice of a divorce attorney.
With their children gone and the taboo of divorce lifting, seniors no longer feel like they need to remain in an unhappy or unfulfilling marriage. No matter what your age is when you divorce, you need someone to guide you through the process.