No one can deny that divorce is a stressful time of turmoil and a fundamental change in lifestyle. This is true on an emotional and personal level, but divorce can also have a serious impact on a couple's finances. Any financial stability enjoyed by the family could be disrupted and pose lasting challenges for all parties involved. According to some estimates, people who divorce will need an income increase of more than 30% to maintain their standard of living after the divorce.
All that said, in general, the financial impact or burden for a man after a divorce is statistically less severe than for a woman. The more time passes, the more difficult it can be to re-enter the workforce and earn the income needed to become financially independent. Laura Miolla is a certified divorce counselor, divorce mediator, writer, Internet radio show host, and divorced mother of two young children. Zsa Zsa Gabor shaped an entire generation's idea of women and divorce when she said: “He taught me how to do household chores; when I get divorced I stay with the house.
Since legal costs tend to increase in proportion to the balance at stake, not being able to finance divorce proceedings independently of your spouse can have very negative consequences on your legal strategy. These costs are only for public assistance (social assistance) programs, not for the cost of the divorce itself (attorney and court fees, counseling, mediation, etc. If your divorce agreement includes a compensatory payment, either in a lump sum or in series of payments, you can take steps to ensure your integrity. Children from divorced homes also have a harder time in school, are less likely to graduate from high school, and are less likely to become productive citizens.
With the marital balance divided in half and two lifestyles to finance, change is often inevitable, regardless of the terms of the divorce agreement or people's net worth. The big message here is that neither marriage nor divorce should be taken lightly, given the potential financial consequences. Second, by not selling and dividing the profits as part of the divorce settlement, you will absorb most of the transaction costs, including realtor fees of up to 6%, which could have been shared. On average, women live longer than men, which means that a divorced woman could face a few years of her life in which she would be solely responsible for her financial needs, with much less available capital.
But why do divorced women endure most of those financial hardships in their current and future incomes at a much higher rate than divorced men? States that require waiting periods throughout the divorce process should reevaluate the purposes and impacts of those policies, as well as inconsistencies in the way divorce policies are implemented...
