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How do finances affect gray divorcees?

Virginian residents like you may have been married for a long time, but that doesn't mean you are unable to make big life changes. If you feel like it is time to get a divorce, Madigan & Scott, Inc., will be here to help, regardless of what age you are. However, you should know that older divorcees often face problems that younger ones don't. 

One prime example revolves around finances. Naturally, a younger couple will be impacted less by the division of assets. This is because they've had less time to accumulate money, savings, stocks or benefits. They also have more time to continue working in order to regain lost savings, benefits, and other sources of income.

On the other hand, grey divorcees like you are usually either already retired, or are planning on retiring shortly. A financial hit can leave a much larger impact on you. You may find yourself having to return to your work, or even pick up additional work in order to help rebuild your savings or retirement funds.

In addition to the lack of income, you also face hurdles in the form of medical expenses. The older you get, the more health problems you are likely to have. These issues can potentially be quite costly.

Are you a grey divorcee who is wondering what the future after your divorce might have in store? Are you wondering how to deal with property and asset division in your marriage? Consider taking a look at our webpage on family law, linked above, to learn more about your options.

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Madigan and Scott, Inc.
7880 Backlick Road
Suite 2
Springfield, VA 22150

Phone: 703-455-1800
Fax: 703-451-4121
Springfield Family Law Office