PHILADELPHIA (CBS) — There is a trend in gray divorce. More and more couples married 30, 40 and even 50 years are calling it quits.
And as KYW’s John McDevitt reports, the dependant spouse, usually the woman, may need to readjust her outlook when it comes to finances.READ MORE: FEMA-Run Mass COVID-19 Vaccination Site Opens At Pennsylvania Convention Center
Many woman who were in traditional marriages and stay at home moms may not only know what’s in the marital estate, but what it all means.
Montgomery county divorce lawyer Cheryl Young says that could be a scary thing.READ MORE: 3 Men Wanted For Stealing ATM From Convenience Store In Brewerytown, Philadelphia Police Say
“What stocks are, what bonds are, maybe she isn’t used to paying the bills. She doesn’t understand how much money she needs to survive. She doesn’t understand how to invest the money she is going to get, whether she needs growth or interest baring stocks and investments,” Young said.
Young says in addition to legal advice, financial advisors, therapists and coaches can also help give the newly divorced comfort in financial security matters.MORE NEWS: Police: 2 Men Shot On Park Avenue In North Philadelphia
“These are people she can have relationships with going forward, so that some of the fear is removed with regard to her future economic situation,” Young explained.