Queens, NY- Women may account for 40 percent of breadwinners in the U.S., but divorce is still financially devastating for women. In a recent survey of women, the majority of divorced respondents said their divorce resulted in financial strife, but there are ways a woman can avoid the economic pitfalls of getting a divorce.
Women Have More Financial Problems After Divorce
In a recent survey by Allianz Insurance found that women face greater financial difficulties after divorce than men. According to the Allianz Women, Money, and Power Study, 64 percent divorced respondents said their divorce caused them financial upheaval. Fifty-nine percent said their split was a financial “wake-up call.”
According to the survey, divorce women were most worried about the following:
Running out of money
Preparing for the future
Helping their children and grandchildren
Asset Division in New York
New York state is an equitable division state, aka community property state, so that means assets are divided between each spouse in an equitable fashion. That isn’t to say everything a couple owns is split 50/50, but assets and property are divided as fairly as possible.
If you and your estranged spouse are unable to agree on how to divide your assets, you will have to rely on the divorce court to decide. They will look at several factors to determine a settlement amount include each spouse’s income and net worth, their ability to earn, duration of the marriage and their living expenses.
Assets such as the marital home and retirement accounts often snarl divorce negotiations. The marital home is usually the greatest source of a couple’s wealth, and each spouse may be reluctant to let it go. Typically, the parent awarded primary physical custody of their child or children will be awarded the marital home, but a court can order a home be sold and proceeds divided if they cannot agree.
If you are getting a divorce, you can prevent a devastating financial fallout if you retain a divorce lawyer in Queens, New York to negotiate for you. The divorce experts at USAttorneys.com can secure the divorce settlement you need to keep yourself from being destroyed financially.
How to Protect Your Finances During Divorce
The most assured way to protect your finances is to rely on an attorney to negotiate the financial terms. They understand what is allowed under Georgia law and have the skills to negotiate a fair settlement. Divorce is going to impact a couple’s finances no matter what. That is why it is wise to enlist a divorce lawyer in Georgia to ensure your finances are protected and you won’t face financial ruin because of your divorce.
USAttorneys.com can get you in touch with a well-informed and detail-oriented divorce attorney in New York. Whether you live in Queens, the Bronx or another area of New York, we have a lawyer who can stand up for you.