Grey divorcees face unique hurdles compared to their younger counterparts. This sometimes makes divorcing at an older age more difficult on a whole. However, understanding what these hurdles are can go a long way in helping you prepare to face them.
Many of these hurdles also exist in the same categories, which makes it easier to prepare for. For example, most of the biggest problems you will come across will tie back to assets.
Hide your assets
Forbes takes a look at the struggles and challenges faced by grey divorcees. As mentioned, assets make up the core of many issues. For example, you have had decades to accumulate joint and separate assets. This means the division process is often long, complex and wearying.
In addition, some spouses might feel tempted to take advantage of the chaos to hide assets. This is more common in higher asset divorces, where spouses feel like they have a chance of getting away with fudged numbers. If they get away with this, it can deprive you of support you were counting on.
Loss of support
Speaking of support, losing any significant support at this age will often do a lot of harm. This is especially true when it comes to retirement benefits or plans. Perhaps you were relying on joint benefits with your spouse. Maybe you left the workforce to care for your family and thus relied entirely on their benefits. Figuring out how to support yourself in your retirement years should thus be one of your biggest priorities.
To help ease the way, you may want to look into legal help. After all, this guidance can ensure you get what you need to live comfortably after the split.