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How does grey divorce differ from other age groups?

On Behalf of | May 19, 2021 | Divorce & Legal Separation, Gray Divorce |

As an older divorcing couple, you may have heard that your divorce will likely go different than those of your younger peers. But just how different are you looking at?

Grey divorcees like you often face unique hurdles and struggles that younger couples may not even consider. If you want to have a relatively smooth divorce, then it is important for you to identify and understand exactly where these potential hurdles are.

Handling retirement matters

Forbes takes a look at some hurdles unique to grey divorce. Many involve finances, assets and how you will continue to support yourself in the aftermath.

The latter is particularly important, as you are likely around retirement age. Maybe you have already retired, or maybe you have worked as a stay-at-home parent for some time. In either case, you will need to focus on alimony or spousal support to help you get back on your feet and maintain comfort after a divorce. This is especially true if you need to get back into the work force to gain benefits or earn a living wage.

Dividing your assets

Asset division also often proves a bit of a hurdle. After all, you have likely had decades to accumulate joint assets. It takes time to go through everything and ensure you get an equitable division between the assets you must divide. You may even need to hire forensic financial specialists to help ensure none of the numbers get fudged along the way.

Finally, it is often harder for grey divorcees to readjust to life after marriage. You have experienced decades together, compared to the years or even months some other married couples have. Consider seeking therapy or other forms of external support if you feel yourself struggling in the aftermath.

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