What is a gray divorce? It is a divorce in which the spouses are in their 50s or 60s. Gray divorces in San Antonio are on the rise as they are in other areas.
In many cases, divorcing as an older American might be easier than it is for younger spouses. For example, older people often are better able to cope with the emotional elements of divorce. However, sometimes a gray divorce comes with overwhelming financial worries and concerns. In Texas, financial security is the top area of concern for older residents getting divorced.
Ask yourself these 5 questions before filing for divorce
It is vital for those considering a gray divorce to develop a picture of their finances after their marriage ends. The goal of this step is to determine if and how you can support yourself post-divorce. If you still want to end your marriage, ask yourself the following questions.
- Are you prepared to support yourself alone?
- Are you eligible for spousal support in Texas?
- Can you afford to pay spousal support?
- Do you have sufficient individual retirement income?
- Do you own investment properties separately from your spouse?
If you answered yes to the questions above, there is a good chance you will continue to thrive after a gray divorce, regardless of your gender. However, we caution you to prepare well before filing. Consider partnering with a divorce lawyer with a supportive yet firm approach to protecting your best interests. Such a partnership allows you to explore all financial issues thoroughly before your marriage ends.
You can learn more about gray divorces and other family law matters by continuing to explore our firm’s website content.