Grey divorcees often face unique struggles compared to their younger counterparts. In particular, most of these differences come in the form of struggles with assets and benefits. After all, you have much less time to make up losses than a younger couple.
In particular, asset division can plague individuals. But what about property and asset division is harder for grey divorcees?
Sorting through decades of assets
Forbes examines the hurdles faced by grey divorcees, which often prove unique to older age groups. As mentioned, asset and property division serves as one of these hurdles. You and your spouse have likely been together for decades by this point in life. This means you have accumulated more joint and personal assets than a younger couple.
As such, it will take more time and effort to sort through all of your assets. It can even cost you more money in the long run, for various reasons.
Dealing with hidden assets
One unique issue is the possibility of a spouse attempting to hide assets. This is more common in higher asset divorces, where you have so many moving parts and different sources of assets that it grows almost impossible to keep track of. A particularly sneaky spouse may want to take advantage of this so they can get away with an unequal division of your assets.
You may need to seek the help of forensic financial specialists if that happens, which is another cost to add to your tab. You will also likely need to pay for legal help. This is a worthwhile cost, however, as legal help may ensure you get the most equitable division of assets.
