Preparing to Decide: What to Know About Divorcing in Midlife

If you’re in your 50s or 60s and wondering whether it’s time to move on, you’re not alone. “Gray divorce” — divorce after 50 — is rising fast, and with it, the need for calm, informed planning.

At My Next Chapter, we’ve seen this pattern through our work with experts like attorney Renee Bauer and financial planner Jamie Lima, who stress one core truth: before you make a move, get informed. This is your financial future, and your legal stability, on the line.

1. Start With a Financial Reality Check

Before anything else, gather the facts:

• Bank, retirement, and investment account statements
• Property records and mortgage balances
• Insurance, debt, and tax filings

💡 Tip: Open an individual bank account and track your credit score early — this protects you and speeds up the process later.

2. Understand How Your State Defines Marital Property

Every state draws the line between “mine” and “ours” differently.

• Community-property states (like California, Arizona, Texas) split most marital assets 50/50.
• Equitable-distribution states divide assets in a way that’s fair,...