Late-life divorce is increasingly common in many Western countries, however, studies on this transition remain scarce. The purpose of this article is to study attributed reasons for late-life divorce, and if any life phase-typical aspects can be identified in these attributions. Qualitative interviews were carried out with Swedish men and women aged 62–82, who after the age of 60 had divorced from a cross-gender marital or non-marital co-habiting union (N = 37). The results, analysed using principles from Grounded Theory, revealed four different types of narratives: (a) incompatible goals for the third age, (b) personality change caused by age-related disease, (c) a last chance for romance, and (d) enough of inequality and abuse. A central insight and an original contribution generated by the study was the importance grey divorcees attributed to the existential conditions of later life in their divorce decisions. The results are discussed in relation to theories of late modern intimacy and the third age.