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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 of divorce over 50.  Many of those divorces are marriages that are 25 years and longer.  

At Brainstormingwomen, we have worked with many clients whose marriages fall within gray divorce.  Most of our clients are women who have been surprised by a spouse wanting to divorce after 25 plus years of marriage.  The significance when doing our analysis, given the length of the marriage, is that there are several factors that must be looked at in more detail when addressing the finances of a 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.