If your marriage has managed to survive into your fifties, you might believe life is only smooth sailing from that point forward. However, divorce after the age of 50, also known as “gray divorce”, isn’t quite as uncommon as you might expect, often influencing everything from your finances and your daily life to your self-confidence and your entire family.
In case you are currently dealing with divorce in later life, here is some advice that might help you survive divorce and come out happy.
Understand the emotional impact
Divorcing after the age of 50 often means breaking a bond that lasted for several decades, possibly even the majority of your adult life. Such a big change can have a significant impact on your mental health, bringing up feelings of fear, anger, panic, depression, or even a combination of these emotions. For that reason, understanding these new feelings and working through them, preferably with a psychologist or a therapist, might help you cope with divorce more healthily and allow you to make smarter decisions about upcoming divorce proceedings.
Attempt to reach a settlement
In places such as America, where gray divorce is currently on the rise, many former spouses make an effort to avoid litigation whenever possible, whether due to the cost or the necessary length of the procedure. Instead, they opt for different forms of divorce proceedings, such as mediation or collaborative divorce, in an effort to save some precious time and money, while also avoiding the stress of being in court. In case you and your partner are still on relatively good terms, these alternative divorce proceedings might be a better option for your financial status and your overall health.
Consider hiring professional help
On the other hand, in Australia, former couples tend to value the importance of legal representation and have a good team on their side. For this reason, they often hire an experienced Family Lawyer from Brisbane to help them with their divorce proceedings, whether they are going to court or even deciding on alternative divorce options. Such a professional can help you engineer the best property settlement, secure a better financial future, and even take your family’s needs into account, which is why it might be best for you to hire a skilled and knowledgeable lawyer as well.
Prioritise your financial stability
Before you agree on a final settlement, it would be best to revise your current finances and see how they will change after the divorce. For instance, think about whether you could afford to maintain your house or keep your current job after one source of income has been lost. At the same time, it can be tempting to acquire as many assets as possible during a settlement, aim to keep only what you truly want and what you can actually afford, to live a more financially stable and comfortable life after your divorce.
Accept your new lifestyle
As already mentioned, your household budget will likely be reduced after divorce. This means the way you lead your lifestyle might need to change, whether it be smaller aspects such as forgoing weekly salon appointments or bigger areas like downsizing your home. It might also be a good idea to find a more lucrative position or get a job if you haven’t worked before to secure your income and assets. Although this means that your golden years might not be as golden as you imagined, it will allow you to protect your future and live a more comfortable life in retirement.
While getting a divorce in your fifties might take a significant emotional and financial toll, following the great advice mentioned above will help you find ways to cope and survive this new, turbulent part of your life.
