"Gray" Divorce

After almost 40 years of marriage, Mary has gone through a very emotional divorce.

Previously, she had not been very involved in the family finances and relied on her ex-husband to make most of the major financial decisions.

Having been a stay-at-home mom for her children and later serving as a caregiver for her ailing mother, Mary has a very limited work history.

Having previously relied on her ex-husband to manage their finances, she now must navigate this unfamiliar territory by herself.

Despite receiving a sizeable amount of retirement assets in the divorce, she lacks sufficient work history to qualify for Social Security on her own and will be relying on ex-spousal Social Security benefits.


Questions You May Have

  • When should I start ex-spousal Social Security benefits, and what are the eligibility criteria?
  • Will I still be eligible for survivor benefits if my ex-husband pre-deceases me?
  • What happens to my Social Security benefits if I ever decide to get re-remarried?
  • What should I do about healthcare before becoming eligible for Medicare?
  • Should I work? Even if it's part-time.
  • How would I prepare an effective budget that will allow me to cover my day-to-day expenses and provide the opportunity to travel and spend time with family?
  • How much income can my investment and retirement assets provide, and which accounts should I draw from first?
  • What estate planning strategies will allow me to pass my estate to my children efficiently?
  • How will I pay for long-term care if I'm not currently living close to children and grandchildren?

Note: The above is hypothetical and does not involve an actual Blake Wealth Management client. No portion of the content should be construed by a client or prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction if Blake Wealth Management is engaged to provide investment advisory services.

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