If you are considering divorce and are in your 50s (or even older) then you will go through a gray divorce. A gray divorce is one that takes place when you are 50 or older, named because of the gray hair most people have at that age.
Other than being older, there are some differences that come with a gray divorce, like having a greater number of assets or potentially not having to worry about child custody but needing to consider issues with adult children after your separation. Here’s what you can expect as you move through this process of divorcing at an older age.
What can you expect during your gray divorce?
The first thing to expect is that you will need to separate a greater number of marital assets, as well as different marital assets, during your divorce. Older couples usually have real estate, retirement accounts, savings accounts, stocks and other financial holdings that need to be considered.
It’s important for you to go through your accounts, to find all of the assets you can and to disclose them properly. This will help you and your spouse talk about how to divide those assets or have them ready for a judge to make that decision.
Don’t forget about your adult children
By the time you’re in your 50s, it’s likely that your children will be grown. Some may still be in college. Those are factors that you should consider. If you and your spouse are currently paying for your children’s college fees, then that’s something to bring up and discuss.
Even if your kids are all out of the nest, take the time to talk to them about your divorce. Remember, they are still your children, so you shouldn’t vent to them about the other parent or rely on them too heavily for support. Grief management is important if you struggle with your divorce, but even adult children can find it overwhelming.
These are a few different things to expect as you go through a divorce at an older age. Your attorney can help you with your divorce, so it can go as smoothly as possible.