Stay-at-home Moms and Preparing for Divorce:
A divorce can be overwhelming for anyone, including stay-at-home moms. Oftentimes, a stay-at-home mom does not have equal access to the family resources and it can be more difficult to leave. If you are in this position, here are some tips to think about before you file divorce paperwork:
- Make Copies of all Financial Documents. Before you file for divorce, it is helpful to make copies of tax documents, bank statements, pay records, and retirement accounts. It is good for you to have full knowledge of the financial picture of your family before you file any paperwork. It is also helpful for you to give these documents to an attorney to review at the onset of the case.
- Meet with a Financial Planner. Talk with a financial planner to discuss what kind of budget you will need after a divorce. You can gain insight as to whether you will need to start working and how much in maintenance and assets you will need to maintain your lifestyle and what you will need for your children.
- And Meet with a Mortgage Broker. Do you want to keep the house? There are usually very specific requirements about how much maintenance and child support you will need each month and for how long to keep your home. It is helpful to have this information before you begin the process.
- Get a Credit Card. Hopefully your spouse will be fair with money and not cut you off of funds when the divorce commences. Unfortunately, this does not always happen and it helps to have access to money for living expenses and attorney fees for the time between you file and when you can first get into court.
- Don’t move out of the house without speaking with an Attorney First. If you leave the house, you may not get orders to keep it in the future. If you leave your children, you may be creating a bad situation for custody orders in the future. In cases where there is concern about domestic violence, always think about your safety and your children’s safety first. If this is not a concern, however, speak with an attorney before you make the big decision to move out.
Here are just a few tips for stay-at-home moms to prepare for a divorce.