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A gray divorce may be more of a struggle for women

On Behalf of | Aug 11, 2022 | Divorce |

Ending a marriage is a financially complex process that can have significant impacts on a Florida spouse’s life regardless of his or her age at the time. However, older individuals may find that the money-related issues of their divorce are particularly complex due to their proximity to retirement age. A gray divorce, which is a divorce between two people age 50 and up, can be especially difficult for women.

Seeking a strong financial future

Women are often the spouse that decides to stay home with the children or work fewer hours in order to take care of their kids. As a result, they may rely on their spouse’s income and joint savings for their future security. As a divorce requires the division of all marital property, a woman could be facing a future with significantly less savings than she anticipated for her golden years.

Statistics indicate that women who divorce at an older age see a decline in their standard of living by as much as 45%. Some must push back their intended retirement date, while others must return to the workforce after their divorce. It is particularly crucial for women to be intentional about seeking fair financial terms in their final divorce orders.

A strong post-divorce future

It is possible to seek and secure terms that allow one to have a strong post-divorce future. In order to do this, those who are considering or already facing a gray divorce may benefit from seeking the guidance of an experienced Florida divorce attorney. With this support and assistance, one will gain much-needed peace of mind during such a challenging time while also significantly increasing the odds of achieving the best possible outcome.