Divorced women and financial surprises

Women in California and the rest of the country are likely to be taken by surprise by some of the financial issues they encounter during a divorce. In a survey that polled 1,785 women, 46 percent of the divorced women stated that their divorce produced financial surprises.

The women who were surveyed included women who were on the verge of getting divorced, women who were in the middle of the divorce process and women who were already divorced. About 22 percent of the women surveyed were 55 years old or older; the majority of these older women had already been divorced.

Divorced and divorcing women are highly likely to encounter certain unpleasant financial surprises. Many women are unaware of the extent of their marital debts and have not considered that it may be necessary for them to go back into the workforce. Women may also be surprised at the fact that they might not be able to keep the marital home and that any alimony or child support they receive would not be as much or last as long as they thought. The very high costs of healthcare insurance and paying for a divorce are also common surprises.

In the survey, the women were asked to confirm if they had encountered any financial surprises during their divorce proceedings. Thirty-eight percent of the women who were at least 55 years of age and nearly 50 percent of the women who belonged in the younger age groups stated that they had experienced unexpected financial issues.

A divorce attorney may assist clients with obtaining favorable divorce settlement terms regarding matters such as the division of marital assets, including real estate, retirement funds, investment accounts and other financial accounts. Litigation may be used to protect clients’ interests and rights regarding spousal support and child support.

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