A divorce can be stressful for anyone, but a stay-at-home parent can view the coming proceedings with even more trepidation. If you do not have as many resources as your spouse does, how can you expect to be treated fairly in an expensive divorce? Fortunately, there are some effective ways for stay-at-home parents to protect themselves during this process. Our Sparta divorce attorneys are ready to help you.
What Should a Stay-At-Home Parent Do Before a Divorce?
If you believe that a divorce is forthcoming, get organized. That means:
Knowing your family’s financial situation: Find out what kinds of bank accounts, retirement accounts, and credit cards are open in your and your spouse’s names. Track monthly expenses and figure out if you have any loans or debts that would be considered marital property.
Gathering your own important documents: Then you need to have copies of any of these important financial documents along with any documents that are related to your finances and your marriage. Your marriage license, mortgage statements, tax records, and anything else that can be related to you or your family’s financial status should be easy for you to access.
How Can a Stay-At-Home Parent Deal With Divorce Expenses?
Divorces cost money, even when spouses can be cordial and avoid dragging things out. As a stay-at-home parent with fewer resources to rely on, you are probably worried about how you are going to pay for a divorce. There are some options for you:
Opt for a less expensive divorce method: Going to court is expensive, but it is not your only option. In mediation, you and your spouse can sit down with a third party who can help you negotiate different parts of your divorce agreement, like child support and property distribution. This costs less than going to court and could be a better arrangement for you.
Request that your spouse pays your attorney fees: If this absolutely must go to court, you can ask for “spouse-funded litigation.” This means that you can ask a judge to order your spouse to pay attorney fees and court costs for you. Sometimes it is the only way to make things fair for each partner.
How Can a Stay-At-Home Parent Prepare for Their Post-Divorce Life?
When you know that a divorce is coming, you must take steps to plan for your own financial future. This means:
- Reviewing your own credit report and credit score
- Opening a new card in your name, for building credit and dealing with emergencies
- Prepare yourself for potentially entering the workforce
- Explore all potential income streams
- Make a budget based on your expected post-divorce budget
Doing this now can help you adjust quickly to post-divorce life without getting completely overwhelmed.
Schedule a Consultation Today
If you are ready to learn more about your potential options during a divorce, contact Paris P. Eliades Law Firm, LLC. We can schedule a consultation and tell you more about this process and how a stay-at-home parent can protect themselves during it.