Did you know divorce impacts a woman’s finances more drastically than a man’s? Divorce is an emotionally unstable time for many people, so it makes sense it would be a financially rocky time as well. Many people are so eager to be done with the stress, they make mistakes that cost them a financially secure future. Here are some sobering facts pulled from research at a State University:
On average, a woman is paid 78% less than a man, even in the same job market. Therefore, it is common for a male spouse to have a larger income. To complicate matters even more, 83% of mothers are more likely to retain custody of the children, according to a 2009 analysis by the U.S. census bureau. Attempting to work, while maintaining a household by herself, causes financial and emotional strain that only 17% of divorced men experience. A good divorce lawyer is absolutely critical for protecting a divorced mother’s financial future with proper amounts of alimony and child support.
In 2013, statistics showed that 24% of married couples with children under the age of 15 had a stay-at-home mother. For women who have been out of the workplace for years, it may be difficult to find financially lucrative careers. These women, when facing divorce, have significant challenges, such as:
With all these financial disadvantages, a woman is far less likely to afford mortgage payments or buy out her husband’s half of the home. She is far more likely to downsize, while still maintaining parental duties.
Escaping court-ordered child support and alimony payments is far too easy, and without the expertise of a good family lawyer, a woman may not receive her fair share of the finances. The numbers speak for themselves: Studies show 75% of divorced mothers do not receive full child support payments from their ex-spouses. Especially when alimony, child support, custody, and expensive property is on the line, never try “Do-It-Yourself Divorce.” Always hire a professional divorce attorney to represent you and look out for your best interests.
Remember, a good family lawyer can act as a mediator when tensions are high and help protect your future finances by ensuring fair alimony and child support. If you’re going through a divorce, or even trial separation, don’t try to handle it alone. We’ve represented many women to protect their financial futures. You can explore our Case Studies here to see how we’ve represented people in the past. Schedule a consultation or call us at 919-424-8319 today.