Divorce can be especially difficult for women in Connecticut for multiple reasons. Frequently, women will put their career aspirations on hold to act as primary childcare givers and may still be doing so at the time of a divorce. The result is often that women will experience a more significant drop in income in the aftermath of a divorce. Women can be financially stable after divorce, but only if they pay special attention to protecting themselves and making the right choices.
Understand your financial situation
Men more often handle finances in a marriage, so when it comes time for a divorce, they’ll have a better handle on exactly where the household’s finances and assets stand. While it would be nice to believe that both parties in a divorce will behave honestly and fairly, the reality is often quite different.
That’s why it’s crucial to make a full and exhaustive inventory of any assets that the two of you hold. If you don’t have a complete understanding of what you’re entitled to, you’re not likely to receive your proper due.
Set a budget before finalizing the divorce
Your financial circumstances are going to change, possibly dramatically. Make sure that you’ve mapped out exactly what you’ll need in order to make ends meet.
Frequently, women are primary caregivers for children after a divorce, and you may end up with the house. You’ll want to understand how much home maintenance and child care will cost so that you can receive adequate compensation.
Don’t forget retirement assets
Retirement can often seem so far away, especially during the trauma of a divorce. But retirement assets are often one of the most valuable commodities in a divorce settlement. You are likely entitled to a share of a pension or other retirement asset through your spouse’s job.
Women navigate special challenges when going through a divorce, and the best way to come out of one with financial security is to keep these tips in mind.