Gray divorce has made a major impact on society, as it has grown increasingly more common over the last few years. As with all divorces, there are emotional, social and financial implications to separating from one’s spouse. Regardless of age, those in Georgia considering divorce can seek legal counsel as they look at their options and the possible effects.
Couples who obtain divorces early in life have greater spans of time to make up the financial losses that they may experience due to the process. For older couples who decide they want to divorce, there is less time to regain what they lose to divorce when they are close to retirement. Statistically, women who have gone through divorces later in life have increased chances of living in poverty.
Those who are working through or have gone through gray divorce, however, have options available to them that can help prevent future financial struggles. Ex-spouses who were married for more than 10 years, as long as they remain single, may be able to claim benefits from the other parties earning records. There are other claims and actions that can assist with the financial aspects of gray divorce as well.
Legal professionals in Georgia can provide assistance with understanding the financial aspects of divorce, whether one is relatively newly married or has been married for decades. Those interested in the divorce process have many resources available to them that may ease the potential stress and tension that can be involved. There are many aspects of divorce that one may not consider, meaning that seeking guidance can be extremely helpful during the complex divorce process.
Source: investmentnews.com, “Gray divorce boosts poverty level for women“, Mary Beth Franklin, Jan. 12, 2016