While divorce isn't easy on anyone, it's clear that men and women handle divorce differently. It is now a fact that over half of marriages end in divorce, so if this is currently your reality, you are no longer in the minority. While that may be of some solace, divorce is still painful, and it's incredibly easy to make life-altering mistakes during this emotional time. Finances require your greatest attention during a divorce as you won't be granted a do-over when you realize what you've left on the table. Here are 5 of the biggest money mistakes women make when divorcing.
Getting a divorce means big changes in your life, but there are ways to make the process easier. One of the best ways to do that is to be sure you understand what the process will entail, and prepare for it as much as possible beforehand. Then you can feel more secure in your decision. Here are six things you can do before you file for divorce, so you will be ready.
Unfortunately, domestic violence allegations tend to go hand-in-hand with many divorce proceedings and child custody disputes. If you have been accused of this crime, you may have a hundred concerns about how it will affect your parental rights and other aspects of your life.
Any adult going through divorce knows that the process is typically very stressful. The same holds true for any children involved. The kids often experience the same mental and emotional turmoil as their parents do. Just like Mom and Dad, their lives are being torn apart and must be carefully reconstructed.
Divorce is difficult enough when you only look at the emotional side. Tearing a family apart is never easy on the spouses' feelings or on the children's. However, ending a marriage can be equally challenging on the financial side. It often means trying to maintain the same standard of living on just one income instead of two. It can also lead to a wide array of other money-related worries -- which makes it no surprise that divorce and bankruptcy often go hand in hand.
As a member of the U.S. Armed Forces, you live in a different world. You encounter challenges that many civilians could not imagine, and you operate within a system separate from mainstream society.
In child custody disputes and other parenting matters, the New York courts have considerable authority. They can decide that a certain parenting time arrangement is not in the child's best interests. They can decide whether or not a father can move out of state with his children. They can even decide that an abusive mother should not be allowed to spend time with her children at all.
In New York, "marital property" encompasses far more than just the family house, the cars and the china dishes you received as a wedding present. It includes nearly all assets that were accumulated during the marriage - which means that pensions and retirement accounts are fair game in the property division process.