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    Divorce Inequality: Why Women Suffer Financially

    divorce inequality women femminineo attorneys michigan

    While no one enters marriage thinking about how divorce can financially tank your future, it’s important to know what could happen if you end up splitting. Though it’s a fact that in many heterosexual marriages the man is often in charge of the couple’s finances, this choice is not ultimately what most negatively affects a woman’s financial standing after divorce. In fact, the reasons for overall divorce inequality may surprise you.

    Lower Wage Earners

    Because many men make more money than women, plenty of married households are already off-kilter when it comes to wages. Divorce doesn’t change this reality – both people, if they maintain the same positions, will continue with the same income, but a woman’s total household income will drop exponentially unlike a man’s which will be reduced far less. Divorce can also interfere with a woman’s potential earning power, often the result of being forced to split her attention between parenting full-time and working full-time.

    Daily Demands

    No matter the stage of divorce, most women in a Worthy survey responded they felt like they had to focus on short-term financial planning rather than prepping for the future. The biggest concern? Paying off debt, plenty of which may have been inherited from shared purchases during the marriage. Retirement saving takes a backseat, and every investment day lost is income lost. Divorce inequality begins to disappear with strategic financial planning for long-term well-being.

    More Household Expenses

    Even if parenting time is split evenly between couples, one parent serves as the custodial parent and ultimately the primary caregiver, a role most mothers are happy to take on regardless of financial drawbacks that contribute significantly to household costs.

    Raising kids is expensive. Child support payments are intended to help cover things like medical care, school fees, activities, groceries, tuition, and other basic living expenses, but that amount might not be enough to pay for everything a parent wants to provide for their child. Unless it’s legally in writing, the father is not obligated to help the mother in any financial way, leaving the financial burn solely on her.

    Poor Negotiation

    It’s necessary to protect yourself in a Michigan divorce, no matter how amicable you and your ex may be. Choose an experienced lawyer who will help secure and protect your rightful assets by negotiating aggressively on your behalf. Don’t hesitate to use your voice in your divorce. Speak up for your future and the future of your children – your ex is not guaranteed to be there to help, nor is anyone else. Be as aggressive as you would be when advocating for your best friend.

    Is It Possible to Avoid Divorce Inequality?

    It’s important to know where all the money is in your marriage and not be blindsided by financial shocks. Divorce inequality is less likely to destroy you the more knowledgeable and realistic you are about how household income will change after the split. Tax matters, housing choices, cost of living – be honest with yourself about all of it and work with Femminineo Attorneys to negotiate fully on your behalf and access the assets you’re entitled to. Schedule a consultation.

    Femminineo Law
    110 S Main St # 200
    Mt Clemens, MI 48043

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    Michigan Divorce Help Law