Mistakes to Avoid During Your Gray Divorce

 Posted on August 30, 2022 in Divorce

The term "gray divorce" is used to describe a divorce case involving spouses over age 50. Because they have lived longer, older spouses often have more complex financial concerns to contend with during divorce than younger couples. Understandably, many people divorcing in their 50s and 60s worry about how the divorce will affect their retirement plans, housing, investments, and overall financial future. There are also deep-seated emotional and personal factors associated with a gray divorce. 

If you are over age 50 and plan to divorce, proceed with caution and avoid the most common gray divorce mistakes.

Mistake 1: Failing to Plan for the Future

If you've been married for 10, 20, or even 30 plus years, it is probably hard to imagine life without your spouse. But divorce at any age requires you to think about your future and plan accordingly. This is especially true if you are nearing retirement age. You need to take into account how divorce will affect your retirement savings and benefits, as well as your overall financial picture.

Mistake 2: Not Getting Help from Financial and Legal Professionals

If you do not have a clear understanding of your finances, now is the time to get help from a qualified financial expert. A financial professional can help you understand the short- and long-term financial implications of divorce. Additionally, work with a lawyer who is familiar with gray divorce concerns. Your attorney should be well versed in the division of retirement assets, investments, and real estate, spousal maintenance concerns, and other divorce issues relevant in a gray divorce.

Mistake 3: Refusing to Compromise

Divorce is not about winning or losing. It is about finding a way to move forward with your life in the best possible way. That means being willing to compromise on some things. If you cannot let go of your need to have everything your way, you could end up in a lengthy and costly court battle.

Mistake 4: Not Standing Up for Yourself and Your Needs

Although compromise is an inevitable necessity in a divorce, it is also important to stand up for yourself. Do not allow your spouse or your spouse's attorney to coerce you into any divorce terms you disagree with. Make sure your lawyer knows your needs and priorities so he or she can best advocate for you during divorce negoiations. 

Mistake 5: Ignoring Your Emotions

Divorce is an emotional process, no matter how amicable it may be. Do not bottle up your emotions or pretend they do not exist. It's important to give yourself time to grieve the loss of your marriage. Consider getting professional help from a therapist or counselor during this tumultuous time.

Call Our DuPage County Divorce Lawyers

At Divorce Over 50 - Goostree Law Group, we know that divorce involving older spouses or spouses who were married for many years comes with unique obstacles. We can help you address those obstacles head-on. Call our Kane County divorce attorneys at 630-634-5050 for a consultation.

Source:

https://www.forbes.com/sites/margueritacheng/2019/02/26/grey-divorce-its-reasons-its-implications/