It's that time of year again when parents of college-aged children are busy filling out the Free Application for Federal Student Aid (FAFSA) for the coming school year. While any parent can find the FAFSA intimidating and hard to follow, parents who have recently separated or getting a divorce may be completely unsure how to proceed.
Gray divorces are often rougher than divorces for younger people. Not only has the couple involved reached an age where they likely thought their lives were going to be pretty much settled, but they may have decades invested in their marriage. Further, the financial aftereffects of the divorce can be harsh on older couples and completely derail their retirement plans.
According to the most recent information available, the average divorce in this country costs right around $15,000. While that sounds like a lot of money, keep in mind the fact that it's an average -- which means that some divorces cost substantially less and others cost a great deal more. How much your divorce ultimately will cost depends a lot on both you and your spouse.