HOW TO PREPARE FOR GRAY DIVORCE
When you’re over 50 years old, marital separation has a special name: gray divorce. Although you may face several of the same issues as younger couples, divorcing later in life creates unique circumstances.
Don’t let these differences surprise you. You can learn about common alterations you might have to make in gray divorce to prevent extra stress during this process.
1: Make a new budget
After living with someone longer than you’ve lived on your own, you could suddenly realize all the opportunities and lifestyle changes open to you. Alternatively, you could realize that your spouse had managed finances and now you have to learn how to handle your money.
Both situations call for a new financial plan. You can speak with a family law attorney about how to finance for the divorce process as well as how to adapt to the division of assets down the road.
2: Adjust inheritance and insurance
It’s likely that you or your spouse rely on the other for health care coverage. If your partner currently provides your insurance, you will have to find a new policy for the years to come. You may also need to remove your ex from your will, if you have one, to reflect the separation.
3: Write a list of fulfilling experiences
When many divorcees finalize the last of the paperwork, they then find themselves lonely, especially if they have retired. Even though your divorce might put a stop to a bad relationship, it’s natural to feel gloomy.
To counter this possibility, you can write down a few experiences that give meaning to your life. This may include volunteering, or attending religious studies, spending time with family, adopting a pet, traveling or practicing a hobby. If you begin to feel post-divorce blues, you can then remind yourself that your new life is just beginning.