Gore Divorce: No Surprise For Some. An Expected Reality Among Late-Marriage Couples

Written by Barry on June 7, 2010 — Leave a Comment

When Tipper and Al Gore announced recently that after 40 years of marriage they were getting a divorce, pundits, politicians and everyday people expressed shock and dismay.

They seemed like the model couple. They’d lived a life together that many married (and, honestly, divorced) people seemingly can only dream of. Of course, they’d had tragedy and illness. But they have money. They raised their children. They enjoyed politics at the highest echelon of the American system. They were ready to coast into their Golden Years – together.

Al & Tipper Gore in happier times.

The Wall Street Journal wrote how the Gores “have spent virtually their entire adult lives in the public eye and they have done it together. They presented themselves as a package,” the Speakeasy columnist wrote, “and the idea of their brand was sealed with a public kiss on the stage of the Democratic Convention in 2000.”

Then, in a not-too-uncommon and increasingly modern occurrence, they split.

Marriage therapists who work with older couples aren’t as surprised as the rest of us seem to be. We’re living longer. Many have the security of dual-income economics to now enjoy life apart. And desires that were stifled in deference to the family unit are more easily pursued and fulfilled once the nest has emptied. Therapists told the Journal, “…they’re less willing to spend their last decades with someone who leaves them unfulfilled. At the same time, working wives are less dependent on husbands for financial support, and husbands have Viagra and other new incentives to find other romances.”

Call it “the New Biology” – and the New Economics. Nothing has gone wrong. People are more robust in their later years, and they have just grown apart. People in their 50s, 60s, even their 70s are unwilling to go without – whether “without” means sexually, being personally fulfilled, or enjoying a more active lifestyle.

We’re seeing this in our family law practice, too. The most common warning signs are:

- Increasingly frequent disagreements. Not knock-down, drag-out arguments. They might even be amicable. It’s just that things are seen differently.

- One or both are miserable in the marriage. Satisfaction is gone. As needs change, so, too, do the dynamics of the relationship.

- Sex is unfulfilling – if it’s there at all.

- Free time might be spent with friends – or just in different rooms of the house.

For late-stage couples, equitable distribution of assets presents its own unique issues. Significant tax consequences may be involved. With the Gores, Al is earning income from book royalties and speaking fees. Tipper can expect to split those proceeds. While the source may be different, actively-employed, high net worth couples may have similar financial issues. Assets, property and income will need to be equitably divided.

Many family law attorneys attempt to treat late-stage marriage like a “normal” divorce. The non-working spouse may claim permanent alimony. Asset distribution – and the tax implications – may be more dramatic for both. This could require the involvement of a financial planner or tax advisor skilled in such cases.

Though the dollars may be less, even middle-income couples have concerns. Assets, retirement plans or pensions must be divided. Real estate has to be sold – or equitably shared. Credit card debt has to be addressed. And with earning capacity gone from those already in retirement, you’ll now be providing for two households.

The goal – for high net worth or middle income families – is to minimize the tax implications before getting on with your new life.

Gore Divorce: No Surprise For Some. An Expected Reality Among Late-Marriage Couples

When Tipper and Al Gore announced recently that after 40 years of marriage they were getting a divorce, pundits, politicians and everyday people expressed shock and dismay.

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