The number of so-called gray divorces has increased over the past 10 years. Unfortunately, a late-in-life divorce can place a significant amount of financial strain on the parties who are ending their marriage. Women are especially vulnerable to financial risks following divorce in New York and elsewhere.
Divorce is stressful for everyone involved. That is particularly true for any children in the family. The dissolution of their previous family unit can be a source of fear, anxiety, anger and even depression in children and teenagers.
Just as money is one of the biggest areas of disagreement during a marriage, financial matters can cause animosity during the dissolution of a marriage. Dealing with finances during divorce in Bronxville, NY, can be a challenging process whether a couple has been married five years or 50 years. After all, in many cases, financial issues were the cause of the divorce in the first place.
The process of dissolving a marriage can be a financial challenge, no matter one's age. However, it can be uniquely challenging for those who primarily stayed home with the children prior to the divorce and thus are left to reinvent themselves career wise. Becoming an entrepreneur in New York may very well be a helpful money-making path once the divorce proceedings are completed.
The beginning of a new year is a common time for people to get divorced. Recently, an increasing number of these individuals have been older Americans -- those in the range of 55 years or older. Some tips may help older individuals in Bronxville or elsewhere in New York cope with the financial effects of divorce proceedings.