Divorce is always a difficult decision to make at any age and at any stage in your life. However, it may hit differently when you decide to end your marriage in your 50s and beyond. The repercussions can be potentially more hard-hitting than if it happened earlier in life. It can affect you and your family emotionally, physically and financially. It may also affect your health negatively.
What is a gray divorce and why does it happen?
A gray divorce refers to a divorce after 50. There are many possible reasons for getting a divorce later in life, including the effect of empty nest syndrome, which gives married couples a harder look at what they want in life and ultimately deciding to end their marriage. Another possible factor is that with more women earning independent incomes, splitting one income is no longer a hindrance in filing for divorce. Women may feel more empowered to divorce their spouses because they have their own source if income. Lastly, people in their 50s, or in their mid-life may be more inclined to end their marriages if they are unhappy because they may not want to spend the other half of their lives dissatisfied with their spouses and married life.
Dealing with a gray divorce
If you are getting a divorce after 50, you may need to get a good grasp of your finances. You need to have a clear understanding of your current financial situation and how it will look like for the years to come. This is because there is a strong possibility that you will be self-supporting, so you need a realistic picture of how much money you will need. You may want to do some serious number crunching before you sign the final papers.
You may also want to think about how this affects your children and larger extended family. You may disrupt long-standing dynamics. You may need to rethink holidays, family gatherings and certain traditions.
A gray divorce is a difficult decision. You may want to consider seeking legal advice to guide you through the process.