If you are a married woman in Texas who is contemplating a divorce or who maybe is already in the throes of a divorce, it is important that you fully understand the potential financial risks you face for your future. Every decision you make during your divorce negotiations may have long-lasting financial ramifications for you.
According to a report from Bloomberg, it seems that women in particular may experience serious financial problems after getting divorced. The problems associated with lack of financial security are worse for women who get divorced after the age of 50 than for women who get divorced at younger ages. In looking at women who were 63 or older and who got divorced in their 50s or later, the rate of poverty was nearly 27%. For women who got divorced before the age of 50, the rate of poverty was 18.6%.
The research found that men also were found to struggle financially after a divorce but nowhere near to the extent that women did. Men who experienced a gray divorce, one that occurs in their 50s or later, had a stated poverty rate of 11.4%. For men who divorced in their 40s or younger, the poverty rate was just slightly lower at 10.4%.
This information is not intended to provide legal advice but is instead meant to give residents in Texas an overview of some statistics that show how women may be at a bigger financial disadvantage after they get divorced, making it important for them to have proper counsel when determining their divorce agreements.