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Older women must prepare for common challenges in a gray divorce

On Behalf of | May 20, 2024 | Divorce |

Many people 50 and older who live in the Sunshine State are ending their marriages and starting over, forcing changes to their long-held plans. This phenomenon is referred to as a “gray” divorce.

While divorce affects people, their finances and their future regardless of their age, the landscape is particularly worrisome for people over 50, and especially women. Although many are aware of this, they are choosing to initiate a divorce more frequently than men. A recent story based on research from AARP elucidates this reality. Those who are weighing their options should be cognizant of what they might be confronted with and how they can prepare for the road ahead.

Two of three gray divorces are pursued by women

The study shows that two of every three gray divorces are sparked by the woman in the relationship. There are many reasons for this. Financial experts say that there is greater freedom because of the lack of financial constraints that might have prevented them from leaving in the past. They are educated and have skills and training that allows them to seek employment if they want to. Women no longer need to rely on men to support them. Therefore, they can objectively assess whether they are satisfied in the relationship and act accordingly.

As people are living longer and healthier lives, they decide that happiness should take precedence for the remaining years of their lives. Their children are likely grown and they have time to do as they wish. Other reasons why women are initiating a divorce include profound negatives like infidelity, addiction, emotional abuse, physical abuse and a simple change in feelings and outlook.

Although the terrain is better for women, there are still financial concerns they should address as part of the case. Women in this age range see their financial situation decline significantly with a standard of living reduction by nearly half. Men are in a much better circumstance with their standard of living reducing by 21%. These numbers were from research by Bowling Green State University. In some cases, women fall into poverty. This makes alimony an important facet of the case. These considerations need to be addressed as the divorce moves forward.

Different concerns and goals in a divorce

Family law cases have different issues that come to the forefront and must be handled appropriately. Whether it is a wealthy couple who are choosing to get divorced as they approach retirement or people of lesser means who are simply unable to live together anymore and are now free to move on, it is essential to be prepared.

From the start, knowing the goals, what type of life they want to live, how their finances are organized, what their needs will be and more must be considered. This is crucial from the start and can make a major difference in achieving a positive result and living a fruitful life after the gray divorce is complete.