BNN Bloomberg: Grey Divorce: What to Know - Featuring Ron Shulman, Shulman & Partners

Divorce later in life is becoming increasingly common in Canada, and its financial consequences can be profound. In a BNN Bloomberg appearance, Ron Shulman, Managing Partner at Shulman & Partners LLP, addressed the growing trend of so-called grey divorce and what it means for Canadians approaching or already in retirement. Drawing on census data, the discussion explored why divorce rates among people over 55 have risen sharply and how separating at this stage of life creates unique challenges. Unlike younger couples, retirees do not have future earning years to rebuild lost assets, making decisions around pensions, investments, and support especially critical. This conversation highlights why careful legal and financial planning is essential for older adults navigating separation in Ontario.

“One of the greatest challenges they find is the realization that there is no income to replenish their asset base.”
— Ron Shulman, Managing Partner at Shulman & Partners LLP

During the interview, Ron explained that divorce among Canadians aged 55 and older has increased dramatically over the past few decades. While only about seven percent of divorces in this age group occurred in the early 1980s, that figure has risen to nearly 20 percent today. By 2013, almost a quarter of all divorces involved individuals over the age of 55. Although Canada’s population is aging overall, Ron emphasized that this rise reflects more than demographic change. It signals a real shift in how older adults approach relationships, marriage, and separation.

A key focus of the discussion was how grey divorce intersects with retirement planning. Ron noted that divorce is financially disruptive at any age, but separating during retirement presents distinct complications. Many couples have spent decades building a shared pool of assets intended to support a single retirement. When a marriage ends, that same pool must suddenly support two separate households. Unlike younger couples, retirees often cannot return to the workforce to rebuild savings, which heightens financial vulnerability.

Pensions were highlighted as one of the most misunderstood assets in later-life divorce. Ron explained that many clients are surprised to learn that pensions are valued and divided as part of the overall asset base. This can significantly affect long-term financial security, particularly when combined with other retirement assets such as registered savings or investment portfolios.

The interview also addressed strategies for managing these challenges. Ron emphasized that there is no single solution that works for every couple. Asset division must be approached on a case-by-case basis, taking into account tax consequences, income needs, and support obligations. In more complex situations, collaboration with financial advisors and tax professionals can help structure settlements in a way that reduces unnecessary losses and preserves stability.

Support obligations can also play an important role in grey divorce. Ron noted that support arrangements may interact with retirement income in ways that require careful planning. Timing, payment structures, and tax treatment all matter when the goal is to allow both parties to move forward with financial certainty.

Overall, the discussion underscored that grey divorce requires thoughtful planning and informed decision-making. Understanding how assets are treated and what options exist can make a meaningful difference for individuals facing separation later in life.

Watch the full BNN Bloomberg segment here.

This media appearance is part of Shulman & Partners LLP’s ongoing contributions to Canadian family law discussions. Explore more of our media features in our In the Media archive.