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A trend on the rise


The term "gray divorce" is used to describe a change in recent years, an increase in the rate of couples getting divorced that are over age 50.  Many of those divorces are marriages that are 25 years and longer.  

At Brainstormingwomen, we specialize in working with clients from long-term marriages, who have put aside their career aspirations to raise a family, and then suddenly are blindsided by divorce.  The complexities are greater and of important significance when doing our analysis, given the length of the marriage.  There are several factors that must be looked at in more detail when addressing the finances of a gray divorce:

1.  Commonly, the wife has exchanged a career for raising children and ensuring her husband is able to fully focus on developing his career.  Her earning capacity has changed since before the marriage began.

2.  One spouse hasn't had much involvement in the family finances. This will change.

3.  Assets have been accumulated over the years of the marriage, and negotiations as to how to best divide them must take into consideration the type of asset, etc. 

4.  Funds that supported one household may now have to support two, a budget is very important

5.  Given the time horizon, cash flow is very important to consider over the long run to make well informed decisions

Every divorce is different, all of these factors may not apply and in some cases there are more.  In all cases, careful review must be done to help you make decisions based on facts.