I was reading a recent article from Atlantic Magazine, entitled The Divorce Gap. It traced how women tend to do so much more financially poorly after divorce.
Below is an excerpt from the article:
“Despite the common perception that women make out better than men in divorce proceedings, women who worked before, during, or after their marriages see a 20 percent decline in income when their marriages end, according to Stephen Jenkins, a professor at the London School of Economics. His research found that men, meanwhile, tend to see their incomes rise more than 30 percent post-divorce. Meanwhile, the poverty rate for separated women is 27 percent, nearly triple the figure for separated men.”
Highly experienced divorce attorneys can be the game-changers with these statistics. But not always. As a practical matter, the more economically secure spouse almost always ends up better off.
I often represent men, who talk about how difficult their finances are. They may be paying alimony, child support, towards the mortgage on a home they are not living in, etc.. I try to explain issues of tax deductions and end dates for payments. All of these payments tend to have an end date. And once they end, the man’s net income continues to rise.
A highly experienced divorce attorney can help you plan your future, as well as helping you with your present!