Four Stages for Women Facing a Life-Changing Event

Many years of working with women who face life-changing events such as divorce or the impending death of a spouse have allowed Greystone to develop a four-stage process detailing some of the common issues and emotions women face during times of great change.

1. Discovery Stage. In the initial stage, she is just learning about an upcoming major life event such as divorce or the impending loss of her husband. In addition to feeling fear and stress, she has immediate money matters to address, including gaining a full understanding of her current financial picture and sources of income. She is also calculating the costs of professional services, from health can mental healthcare to attorney’s fees. Her priorities in the discovery stage may include devoting a great deal of time to the life-changing event, juggling her life’s priorities and choosing the right professionals to help her weather the change.

2. Reality Stage. During the reality stage, she is taking on more and more responsibilities to manage her big life change. She has little time, her life may be disorganized and her financial affairs may be in disarray. During this chaotic time she may feel fear, anger and resentment.

3. Finality Stage. In the finality stage, the event, be it death of her spouse or divorce, has occurred. She is now completely on her own and responsible for hiring the right advisors, making sure her bills are paid and working through what can be a mountain of paperwork. She is learning how she will manage her regular expenses, any healthcare-related expenses, and legal or tax matters. Her emotions at this stage may include grief, fear, anger and loneliness.

4. Life-Gets-Better Stage. One-to-two years after the finality stage she enters the life-gets-better stage. She has made it through a very difficult time and has taken strength from her capacity to handle all of her personal and financial affairs. She is back to a routine and recapturing her life. Thinking clearly now, she is taking on new endeavors and has a well-rounded picture of her financial future.