How can gray divorce impact you?

On Behalf of | Jan 28, 2021 | Uncategorized

As you age, your marital problems may become more and more unavoidable. Gray divorce refers to couples who choose to divorce as seniors, rather than as a young or middle-aged couple.

Learning more about the unique concerns you must deal with can help you prepare for separating from your spouse in your later years.

Figuring out financial changes

According to Business Insider, some people struggle to financially support themselves after a split. Handling all the household funds, along with making financial decisions alone, may be entirely new to one spouse.

Overspending on frivolous items or failing to communicate spending habits clearly can lead to discord among couples even after they divorce. This dynamic may continue during the legal proceedings when you must split up your assets.

Dealing with your adult children

Once you finalize your divorce, make sure to clarify your future plans to your children. Arguments within a family can lead to some children feeling the need to take sides. They may also get dragged into conversations they do not need to be in, such as personal and private disagreements between the two of you.

Making sure to set healthy boundaries and informing the rest of your family of what you plan to do can help mitigate this stress.

Planning for the future

In previous years, you and your spouse may have already chosen what vacations you wanted to go on or what nursing home you assumed you both would live in. Dealing with your divorce includes making new plans and thinking about long term retirement funds, social security and housing now that you both live separately. Speaking with trusted family or friends may help you as you navigate these new arrangements.