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A strong financial future for women after divorce

| Sep 4, 2020 | Divorce |

One of the most concerning aspects of ending a marriage is how this choice could potentially impact a spouse’s long-term interests. Money is a sensitive and complex aspect of a divorce, and every choice has the potential for long-term effects. It is in the interests of a Maryland woman facing the prospect of a divorce to consider what  she may need to do now to lay the foundation for a strong financial future.

Unfortunately, women often fare worse than men in a divorce. It is still more common for women to stay home with the children, and they may not earn as much as their male counterparts. It is especially important for a woman to traverse all matters related to finances and property division during the divorce process carefully and thoughtfully. Often, women lose about half of their household income during a divorce.

One important step is to make a list of financial obligations and priorities for the woman and her children. This will prove useful when negotiating a fair settlement, child support and spousal support amount. It is also beneficial to look at long-term savings and fight for a fair amount of retirement assets in a settlement. While short-term interests are a concern, it is prudent to consider what will be necessary in the months and years ahead.

Divorce will have a significant impact on a Maryland woman’s financial future. She will find it beneficial to work with an experienced attorney as she seeks a fair settlement and equitable final order. With a strong future as the goal, it is possible to seek terms that allow for stability and security for years to come.

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