Grey divorce refers to any divorce taking place between a couple aged 50 and older. Often, as a grey divorcee, you will face a different path than a younger couple. In many cases, you will also come across more hurdles.
In particular, as a woman facing grey divorce, you could have a particularly rough time. But why is it harder? And can you do anything about that?
Returning to the workforce
Forbes discusses some of the main challenges that an older divorcing couple may face. Many of the hurdles tie to finances. Women often struggle more because many women of this age bracket have given up their careers or time in the workforce to stay home and raise your children.
Unfortunately, this means you lack any recent work experience to put on a resume. This can make it much harder to find a job, especially at an older age. But reentering the workforce might be a necessity, due to the lack of financial support coming in from your spouse.
Finding hidden assets
In addition, women are more likely to fall victim to hidden assets. This means the spouse will hide assets in order to make their net worth seem smaller than it really is. Because of this, the court orders them to pay a smaller amount in alimony than they otherwise should have. Needless to say, this can affect your comfort and lifestyle in the aftermath of a divorce.
Fortunately, you can contact financial forensic specialists if you suspect this is an issue. You can also work with legal help to ensure you get the most possible out of the divorce so you have fewer difficulties getting back on your feet.
