Grey divorce refers to any divorce that occurs between a couple over 50 years old. These grey divorcees often face unique hurdles that younger couples do not have to worry about, simply due to the different places you are in life.
But did you know that women often struggle more than men in the aftermath of a grey divorce? Why is that the case? And can you do anything about it?
Concerning the job market
Forbes discusses the primary hurdles faced by grey divorcees. Many have to do with finances, assets and benefits. This is also a big reason as to why women tend to have a harder time than men in the aftermath of a grey divorce. First of all, many women in this age group chose to set aside their careers to focus on other priorities. This includes raising your children or focusing on other endeavors while leaving financial provision to their spouse.
Unfortunately, this makes it hard to re-enter the job market. After potentially decades without job experience, finding work is often a big struggle. This is also why alimony and other methods of spousal support are crucial to grey divorcees.
The problem of hidden assets
On top of that, women are statistically more likely to fall victim to hidden assets. This occurs when a spouse tries to fudge their overall net worth in order to avoid giving their spouse more during asset division. If you think you are at risk, you can contact a financial forensic specialist to help. Together with a legal team, you can work toward getting the biggest support possible to deal with life after divorce.
