Going Through a Gray Divorce? Here Are 3 Tips

The last thing you expected at your age was to need to go through a divorce. You are in your later years and you had planned to stick with your spouse through thick and thin.

Now, you’re dealing with divorce and everything that can be disrupted by it. Fortunately, there are some good tips for handling your situation.

Get the right property division help early on to know your situation

When you’re divorcing later in life, you may have retirement accounts, savings or other financial matters to consider. You may want to work with a forensic accountant to help you find all the different accounts that your spouse has and to make sure you divide all your assets fairly. 

Don’t forget about your adult children and the divorce’s impact

A gray divorce can affect adult children, especially if they are still in college and rely on cosigners. This can create a complex situation that must be addressed during a divorce. 

Consider alternatives to litigation

Finally, remember that your divorce doesn’t have to turn into a war. By using mediation or other dispute resolution techniques, you may be able to keep the cost of divorce down, which is essential due to the shorter amount of time you have to recoup finances after a divorce in your 50s or older. 

There’s no reason for you to stay with someone you’re unhappy with, but a gray divorce does have its challenges. You can get help from various professionals, like your attorney, a forensic accountant and mediators, to make the situation easier.