Located in Katy, TX | Sugar Land Office by Appointment Only
The Financial Challenges of a 'Gray' Divorce Over Two Decades of Experience on Your Side

The Financial Challenges of a 'Gray' Divorce

According to a survey of married and former spouses by UBS Global Wealth Management, most women leave investing and major financial decisions to their husbands. This can lead to major problems for an older wife in Texas who decides to get a "gray" divorce.

In fact, this is an issue for more than just older women. The study claims that 61 percent of millennial women and 54 percent of baby boomer women leave the investment decisions up to the husband. However, the researchers also found that the divorced and widowed women in the survey regretted this decision. Nearly all said that given hindsight, they would seek more financial transparency.

Over half of the divorced or widowed women said they made unexpected financial discoveries when their marriages ended. While some of those discoveries were positive, such as learning about a retirement account, others were negative and included finding out about spending and debt they were unaware of. With divorce among older adults on the rise, doubling since the 1990s, some exes over 50 might be responsible for finances for the first time in their lives.

Divorce near retirement age presents a number of challenges. People have fewer working years ahead of them to recover financially from divorce, and it may be more difficult for those who have not worked outside the home to enter the workforce. If one spouse does not know much about the household finances, this may add additional difficulties. However, an attorney could provide information about divorce negotiations and how to take steps for greater financial security.

Categories
  • Georgia  Barker Photo
    Georgia Barker

    Founding Attorney

    Georgia Barker was born in Corpus Christi, Texas and has lived in Houston for most of her life. She attended the University of Texas at Austin and earned a Bachelor of Business Administration. In her graduating class at UT Austin, there were 101 men and only 3 women. Ms. Barker earned a Doctor of Jurisprudence from the University of Tulsa, College of Law and was a member of Phi Alpha Delta Law Fraternity. She was admitted to the Oklahoma State Bar and the following year admitted to the Texas ...
/

WHY WORK WITH US?

Our Priority Is Your Family
  • Work Directly with an Attorney
  • Personalized Service
  • Over Two Decades of Experience
  • Accessible & Responsive
  • Client-Focused & Results-Driven

GET IN TOUCH

The First Step Starts Here
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.