Preparing for a divorce is never an easy undertaking, regardless of age. When a couple over the age of 50 decides to separate, they may not be as concerned about parenting arrangements as their children are grown up or off at university, but there are still complex issues to be resolved. For example, issues like retirement income and asset preservation must be addressed. If you’re considering a “grey divorce,” here are some key considerations to keep in mind.
Involve Your Adult Children
It is a good idea to involve adult children as a divorce can impact them, even if they have long since left the home and are living their own lives. Adult children will need to know where you plan to live, what might happen to their inheritance or how the divorce may impact upon any grandchildren. Obviously, there is no need to go into the granular details of the divorce with adult children, but they should be kept in the loop. Doing so displays respect to them, and they may even provide unforeseen assistance and advice in navigating this difficult time.
Understand Your Objectives
In a divorce, it is critical to take the time to self-reflect and avoid the tendency to be reactionary. You should be clear about why you are going through the divorce process, and what objectives you hope to achieve. You should ask yourself the following questions:
- What do I hope happens?
- What is the best-case scenario for me?
- What is the worst-case scenario for me?
- What am I gaining if I leave?
- What am I losing if I leave?
This personal assessment is a critical step in forging a life post-divorce. It is a cost-benefit analysis of the next few months of your life. For many people, this exercise is helpful for removing much of the stress and uncertainty of this emotional time.
Consult with Professionals
The best piece of advice we can give for a grey divorce, is to first consult with a family lawyer. They will provide you with information, preserve your interests, ensure the best possible outcome and help you navigate this difficult transition. Along with a family lawyer, it is useful to consult with a financial professional, such as an accountant. They can provide insights into crucial areas such as property, pensions and even how to handle issues like jointly-owned businesses.
Prioritize Self Care
No matter how strong a person is, a divorce is a massive upheaval in their lives. It is normal to feel dejected, isolated and hurt. It is critical to prioritize self-care during this time and embrace healthy habits that can help keep your mental health in check. Consider doing exercise, reconnecting with old friends, or even picking up a hobby that will take your mind off the situation at hand.
Work with divorce lawyers at Westside Family Law
If you’re going through a divorce or separation and want to understand your legal rights, the team at Westside Family Law is standing by to assist. Contact Us and let’s discuss your unique needs.