Divorce and the Stay-at-Home Parent: Tips For Success

 Posted on March 18, 2019 in Divorce

As recently as 30 years ago, it was not uncommon for one parent to work while the other parent stayed at home. While this arrangement may be less common today, there are still many cases in which a parent remains in the home to raise a couple’s children. Typically, the stay-at-home parent was the mother, but in recent years, stay-at-home fathers have become more prevalent. According to the Pew Research Center, the number of stay-at-home fathers has nearly doubled since 1989. Traditionally, stay-at-home mothers were the spouses that had to worry about finances and income when they got a divorce, which is why many states’ alimony laws seem to be biased toward women. However, either spouse is eligible to be considered the receiving party in divorce cases in which spousal support is awarded. 

Divorce is stressful, but it can become even more stressful when you are a stay-at-home parent. Here are a few tips that can help you ensure you get what you deserve in your divorce:

Consider Hiring an Accountant

One of the issues that many stay-at-home parents face is not knowing much about their family’s finances or not having access to the finances at all. One way you can combat that issue is by hiring an experienced attorney and accountant who can help you make sense of your financial situation. You are entitled to an equitable share of your marital property, and an accountant can help you figure out what exactly that entails. Even if you and your spouse have an accountant that you have used for years, hiring your own accountant can help you ensure that your interests are being taken care of.

Gain Access to Your Money or Start Saving

Another issue you may run into is not having direct access to your funds. Divorce can get costly pretty quickly, so it is a good idea to try to gain access to bank accounts as soon as possible if you have not already done so. If you are unable to have direct access to your funds, opening an account in your name and saving some cash is a good idea.

Plan to Return to Work

Though it may seem daunting, the truth of the matter is that you will most likely have to return to the workforce at some point. This will allow you to have access to your own money while protecting your freedom and your financial stability. During divorce, you may want to consider updating your resume, taking some classes to brush up on your skills, and trying to find a job that allows you the flexibility that you need as a single parent.

Talk to an Orland Park Divorce Lawyer Today

Divorce can be devastating for anyone, but for stay-at-home parents, it can be disastrous if the proper steps are not taken. When you preparing for divorce, it is in your best interests to hire a Will County divorce attorney who has experience dealing with cases involving stay-at-home parents. At Wakenight & Associates, P.C., we understand the special circumstances that you will need to address, and we can help you make sure your rights and interests are protected. Call our office today at 815-727-6144 to schedule a free consultation.

Sources:

http://www.pewresearch.org/fact-tank/2018/09/24/stay-at-home-moms-and-dads-account-for-about-one-in-five-u-s-parents/

https://divorceandyourmoney.com/blogs/stay-at-home-mom-divorce/