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What are the biggest hurdles grey divorcees face?

On Behalf of | May 25, 2021 | Family Law

As a grey divorcee, you will likely face numerous hurdles that you may not have even thought of as a younger couple. These hurdles may even pose significant trouble in your attempt to get divorced.

But what are the biggest ones you will face? And how can you attempt to overcome them with as little hassle as possible?

Loss of retirement plans

Forbes takes a look at some of the biggest hurdles faced in grey divorce. Many have to deal with your assets, benefits and what you plan on doing if you lose a substantial amount of your current support.

As a younger couple, retirement is not something you need to spend a lot of time worrying about. But at your age, you are likely either already retired or planning on retiring soon. Thus, you have much less time to plan how you will soften a financial blow.

Reentering the workforce

On top of that, many older divorcing couples had a spouse stay home to raise the children, forsaking continuing their career to do so. This can be a huge detriment if you need to reenter the job market. You have no recent job experience and it is likely your schooling is no longer up to par, too.

To overcome this, you can focus on several things. One, ensure the asset split is equitable. Do what you can to get the most out of it. Ensure your spouse is not trying to hide assets and cheat you out of your share. Two, focus on alimony. Get the support you need to get back on your feet. Three, have a plan for what to do. Will you go back to school so you can work? Will you start job hunting right away? Have a plan before you break the knot, or you could end up in a difficult situation.