What are the biggest hurdles for grey divorcees?

| May 19, 2021 | Divorce

As an older couple in your 50s or higher, any divorce you go through falls under the category of grey divorce. As a grey divorcee, your title is not the only thing that differs from younger couples.

You will also likely deal with differences in finances. On top of that, the hurdles you face are unique and you must prepare to face them with careful planning.

Hidden assets

Forbes examines the biggest reasons for grey divorce. Many of them revolve around financial issues and hurdles. For one, you have likely shared assets for a long time. Decades, perhaps. Needless to say, separating assets at this point will prove a lengthy and potentially expensive process.

In cases with high assets, you also face the possibility of a spouse trying to hide assets. Many feel more confident trying to pull this off when you have more assets to help obfuscate fudged numbers. If you feel something is not adding up, consider contacting financial forensic specialists to do an investigation.

Reentering the workforce

Then, you have the possibility of suddenly returning to the workforce after many years out of it. Maybe you already retired. Perhaps you put your career on pause to raise your children. In either case, jumping back in and getting a job right away might be a bigger struggle than you anticipate.

Thus, you may want to focus on alimony or spousal support. This is especially true if your spouse retains some or most of the retirement benefits, or if they have a job already with which to support themselves. Contacting legal help can ensure you get what you need to continue living comfortably.