Do you have to worry about your assets during grey divorce?

On Behalf of | May 18, 2021 | Property Division |

As a grey divorcee, you are in a much different place in life than a younger couple in their 20s or 30s. Even couples in their 40s will likely have a different set of potential hurdles to deal with.

And what are your unique hurdles? Unfortunately, most of them revolve around your assets and finances.

Dealing with hidden assets

Forbes discusses how asset division can act as a problem to grey divorcees. First of all, you have had a much longer time to accumulate assets. This includes individual and joint assets, the latter of which often take a lot of time and effort to divide.

Depending on how things progress, you may even need to hire specialists. For example, a forensic financial specialist can help confirm if your spouse has attempted to hide assets. Uncovering this allows you to get your due division of property, finances and more. This also extends to joint or shared benefits, which may come in handy if your future retirement plans hinged on your spouse.

Gaining financial support

You may want to consider seeking alimony or spousal support payments in addition after the division of your assets, too. This can help you maintain the level of comfort you are currently used to. At the same time, you may wish to return to work or switch to a job in which you make more money. You can use this to supplement your missing benefits or income. As this may include needing to return to school, it can be a costly transition, though.

Thus, you may want to consider working with legal help. They can help you find a path toward a comfortable life after divorce.



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