A grey divorce is when you end your marriage once you are over the age of 50. A divorce later in life may seem like a better idea since you may not have to worry about child support and custody, but there are special challenges that you may face due to your age. It is essential before you head for divorce court in Pennsylvania that you are aware of these concerns you need to address.
While you may not have child support to worry about, Forbes explains that your children may still be an area of concern. Often divorce at this stage can be even more emotionally traumatizing for adult children. They are used to your family the way it has always been. In addition, they may feel more inclined to take sides or to help one parent more than the other, which could lead to hurt feelings if you are not the parent they side with.
Another major concern is retirement. You will probably have to split your retirement accounts, which could leave you in a situation where you can no longer afford to retire at the time planned. You may have to work longer to rebuild what you lose.
Other benefits, such as health insurance another consideration. You may have to provide for your spouse after the divorce if you have always been the one to provide health insurance during the marriage. If you are the one who has always used your spouse’s coverage, you may end up having to now pay for your own insurance, which can be a huge financial burden.
This information is for education only and does not constitute legal advice.