'Gray divorce’ is up 40% as more couples over 50 split, leaving many without a safety net. Here's how to stay protected

Build a full “money map”

To protect yourself and your assets, you need a full picture of your finances. Get a complete view of both joint and individual accounts, including bank accounts, retirement accounts, pensions, property titles, insurance policies and beneficiary designations. And be sure to list all debts (7).

Start putting paperwork in your name

Open separate checking or savings accounts, get a credit card if you don’t have one, ensure you understand how to log in to any online statements and build a small emergency fund. These are critical steps toward independence and building credit.

Understand retirement accounts

Retirement accounts, pensions and annuities may be the bulk of your joint wealth, but dividing them incorrectly can trigger taxes, lost income or other long-term consequences. If you can, run through different scenarios (such as keeping the house, splitting accounts and selling and reinvesting) and think about what income you’ll need in the future (8).

Know your Social Security rights

If you were married for at least 10 years, you may be eligible to claim Social Security based on your ex-spouse’s earnings rather than your own (9). That can be especially important if your work history or contributions are limited.

Claiming on an ex-spouse’s record doesn’t cut down their benefit. Your benefit is independent, so you’re not “taking” from them; their benefits remain intact. For many gray-divorced people, spousal benefits can make the difference between barely getting by and having a stable retirement income (10).

Rethink housing

Many people think of the family home as a safe, comforting anchor after divorce. But owning and maintaining a house on your own, with the taxes, maintenance, utilities and insurance, can be expensive. It might be worth considering renting or downsizing.

Treat financial planning like retirement planning

A divorce at 50 or older isn’t just a one-time split. It can reshape decades of financial planning. Work out a new budget, build a retirement-ready savings plan and make informed decisions about insurance, healthcare and long-term living costs.

Get professional help

A divorce-savvy financial planner can make a huge difference. They can model different scenarios, explain long-term impacts and help you make informed choices.

Gray divorce has serious financial consequences, especially if you’ve never managed finances on your own. If you’re over 50, whether married or divorced, it’s smart to start getting clarity on your family finances, build your independence and plan for retirement. The earlier you take charge, the better positioned you’ll be if life throws you a curveball.