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Tips for navigating a grey divorce

On Behalf of | Dec 20, 2021 | Divorce |

It’s never easy to go through a divorce in Naperville, Illinois, but it might be even harder if you’re in your 50s or 60s. The idea of dating again after spending decades with the same person can seem daunting and difficult. Thankfully, it’s possible to navigate the process with ease if you’re prepared. 

Consider counseling and being around supportive people

After divorce, you might feel isolated and alone. This is normal and understandable. However, it’s important to find a way out of these feelings by doing something positive every day, like talking with friends. You should also consider seeking professional help through counseling or joining support groups that can offer you guidance and encouragement.

Know your finances

It’s not uncommon to feel overwhelmed when dealing with all of your finances after going through a  grey divorce, especially if you split everything down the middle. Create a list of all your assets and debts. You’ll also want to start budgeting so that you make the most of your money and live within your means.

Know the law

If you’re concerned about child custody or your financial settlement, it’s helpful to understand the laws that apply to your case. For instance, if you did not set up a prenuptial agreement before getting married, you might be at a disadvantage when it comes to splitting assets. Although Illinois doesn’t recognize community property, it will typically divide assets and debts fairly to both parties. Being familiar with the law will help you understand your rights and advocate for yourself during this difficult time.

Consider working with a financial planner

A planner can help you create a budget, understand your investments, and plan for retirement. This can be especially helpful if you have children from a previous marriage who are now adults and need financial support.

One of the biggest challenges of a grey divorce is starting over again. You might have to find a new place to live or reinvent yourself professionally. A financial planner can help you ease into this new stage of your life by helping you make sound financial decisions that will benefit you in the long run.

It’s important to remember that you’re not alone when it comes to gray divorce. There are plenty of people out there who can offer you support and guidance as you get through this difficult time. With the right tools, you can make the process a little bit easier for yourself.