The divorce process in Missouri can deal a significant financial blow to an individual’s finances, but more older females than males still initiate divorce. Research suggests 66 percent of women age 50 or older file for divorce. Here is a rundown on why women choose to divorce later in life, also known as gray divorce, and how to make the most of it.
Why older women divorce
Many older women divorce today because they value independence and happiness over money. They often delay divorce until they are 50 years or older because they prefer to end their marriages after their children leave home. Other common reasons for gray divorce include drug or alcohol abuse, cheating, differences in lifestyles and values, and abuse (physical, emotional or verbal).
Making gray divorce easier
Women who go through divorce generally experience a 45% decrease in their living standards. This is a larger dip than men’s 21% decrease. That means older women getting divorced may need to go back to work, train for new careers or work longer to support themselves post-divorce.
How an attorney can help
Getting divorced at any age can be a financial challenge, but it can be particularly difficult for older individuals, as they have fewer years to bounce back financially from divorce before they retire. Fortunately, an attorney in Missouri can help a person going through divorce seek a fair and comprehensive settlement with the other party. The attorney will strive to ensure that his or her client’s rights and best interests are protected during every phase of the divorce proceeding to put them in the best position possible to succeed monetarily.