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Gray divorce may pose financial challenges in Missouri

The process of getting divorced poses unique challenges for every couple. However when that split comes after decades of marriage, those challenges may make the divorce more difficult for one party compared to the other. A gray divorce is the term used for couples who have been married for 30 or more years, and the trend is rising in Missouri and across the United States.

While the exact challenges may vary by couple, one trend is common among those in the midst of a gray divorce. The woman was usually a stay-at-home mom, and the husband was the breadwinner. This often translates to older women not being fully aware of the finances and not being prepared to fight for or handle any financial assets she may be entitled to during a divorce.

The specifics of these challenges can include just how much money a newly single person may need in order to get by or maintain a certain lifestyle. The growth of those assets or how to invest that money may also be a mystery. The actual process of paying the bills may even be a challenge in of itself.

Although this situation may not apply to younger couples going through a divorce, for older couples, the person unaware or in the dark about the couple's finances is typically the female. If a Missouri woman finds herself in this position after decades of marriage, she may want to be aware of any assistance that is available; it may also comfort her to know that she is not alone. Financial advisers and trusted legal counsel can help anyone dealing with a gray divorce who needs more specialized assistance.

Source: CBS Philly, "Easing Financial Fears During Gray Divorce", John McDevitt, Dec. 26, 2015

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