The Challenges of ‘Grey Divorce’: Tips For A Successful Transition

Grey divorces are on the rise these days. This term means that couples who are retired or nearing retirement have decided to divorce or separate thus the name “Grey Divorce”. This brings on different challenges that a younger couple would not experience. The challenge is to separate retirement assets that are already in pay and to create two households from one on a limited income. A couple going through a “Grey Divorce” needs different strategic financial planning and a change in their estate plans. It’s important that all disciplines of financial planning are used here with a concentration on the couple’s financial needs both during the separation and post-divorce. If you are at this time period of your life, consider working with a financial planner to help with the challenges. Find a financial planner here. Article Written By Holly Brady, CFP, CDFA, CFDS, RCP, Prospera Solutions