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Friday, August 2, 2013

Calculating a mother's true cost of divorce

Divorce does not guaranteee a pre-divorce standard of living will be maintained
The cost of divorce averages $20,000 per Mint
By Debbie Nguyen

Taking on the role of parenting is an important job and a woman who manages both a household and children has a significant amount of responsibility on her shoulders. A husband who shares in the duties of running the home may have taken on financial obligations such as paying the bills and balancing the chequebook. However, when an unexpected divorce happens, you may find yourself in the dark about the money aspect of your relationship, and the jobs that go along with it.

Taking time to digest

Divorce strikes 3.6 of every 1,000 marriages in the United States. It can be crippling mentally, physically and financially, especially to women who have been busy managing the domestic side of the relationship. Ensuring that your household is running right can be time consuming, especially when you have children to take care of. However, waking up one day and realizing the burdens that come with a divorce can be overwhelming. You don't have to go through it alone though, and you can benefit whether you retain legal help from a Beverly Hills celebrity lawyer or from a local Orlando divorce attorney. You are going to have a lot of decisions to make down the road, but you need to begin by digesting what this divorce will mean for you, and the children.

A host of burdens

You can expect to have a host of burdens to contend with when going through a divorce. You may have been honest, loving and trusting of this man that you married. But you may find dishonest dealings ahead with hidden accounts, additional credit cards you weren’t aware of and money not fairly dispersed until the divorce has commenced. What's more, the cost of divorce alone averages $20,000 per Mint.

Following divorce, a report published by the University of Oregon claims an income increase of 30% is necessary to maintain pre-divorce standard of living. This can present a host of problems such as how to make ends meet financially, run a household and maintain a normal home life for the children. You need to take charge of the finances for your household and place a hold on all accounts such as money markets, savings, chequeing and retirement. You also need to keep an eye on your credit cards to ensure that you’re not responsible for large amounts of debt. 

Help is on the way

Through the help of a knowledgeable and experienced attorney, you’ll be able to get the necessary documentation rolling in your divorce and find an amicable resolution. If you find that things aren’t going smoothly, a judge can get involved to make sure your assets are handled more than fairly, especially if your primary job has been to take care of the household. You can protect yourself by staying in the home with your children.

Divorce is often difficult for a family, and you want to keep their lives as normal as possible. Parents must collaborate for the benefit of their children. You also want to make sure your attorney files the proper paperwork, so you have money on hand to run the household and care for the children. You will also have to decide on custody arrangements and, dependent on the circumstances surrounding the divorce, a judge can also decide on the primary caregiver and visitation rights.

You’re going to be going through an assortment of ups and downs until the divorce is final, and you need to find ways to maintain your sanity. This could include support groups, friends and family. While things may not seem fair, and you may argue about who gets the china, you need to regroup and keep a level head about what’s important. Finding the strength to move forward once the divorce is final is also imperative, and you need to realize that this was just a stumbling block. The next chapter in your life could hold a host of opportunities and happiness for you.

About the author: Debbie Nguyen is a blogger and compulsive reader who researches and familiarizes herself with various topics, including family law. Her research found Orlando divorce attorney of Katz & Phillips, PA have been assisting families successfully in the Sunshine State.

* Image license: Tom Check; CC BY-2.0