Ending a marriage is a complex process, no matter the ages of the spouses. Divorce can be especially difficult when the two parties are older and they are close to retirement age. Gray divorce is a term that refers to divorce between two people who are aged 50 and up. Unfortunately, Florida women are more likely to experience negative financial consequences after a gray divorce, and they will benefit from preparing for what is ahead.
Steps to protecting one’s financial future
Every divorce is different, but gray divorces tend to be particularly complicated due to the significant financial resources that may be at stake. Older couples have had more time to save, and they likely have accumulated more physical assets over the course of their marriages. One of the most important things a woman can do when facing a gray divorce is to learn about where her money is and how much she has.
Older women facing divorce may need to delay retirement until they have an accurate picture of their post-divorce finances. They may also benefit from maintaining their employment for the time. While some women may want to remain in the family home, it could be most prudent to sell the home and split the proceeds with the other spouse.
A strong post-divorce future
There is a lot at stake during a gray divorce. A woman will benefit from having experienced guidance at every step. Before making any important choices or taking steps that could impact one’s future, it will be beneficial to seek guidance from an experienced Florida family law attorney.