Divorce Tips for a Stay-at-Home Parent

 Posted on April 05, 2017 in Divorce

If you are a stay-at-home parent facing divorce, you are not alone. Among the thousands of divorces which occur annually, a significant portion involves a parent that stays home, working to keep the house and family in order rather than working for someone else. Divorce has the possibility of being harder for these spouses than their counterpart, which does not need to be the case. The experience can be beneficial and positive with proper planning and preparedness.

Locate and Maintain Proper Records

You and your spouse’s separate lives have become fused into one shared life together through marriage, no matter how lengthy or brief. The process of divorce seeks to split the two into two equitable parts again. Everything from the house itself to the items within the home, to the finances and retirement plans, will need to be divided. Make these records available to make the process easier:

• Income;
• Expenses;
• Assets;
• Investments;
• Debts;
• Titles;
• Registrations;
• Tax returns; and
• Bank statements.

Develop a Plan

Even those who have become independently wealthy need to create a financial plan for the divorce. The process itself costs money, and after the divorce is over, there will be two homes, two grocery shopping lists, and two of everything else. If a judge awards you child support and alimony, the amount received does not traditionally cover all child costs and the amount monthly bills. As you look ahead, there are a few questions for you to ask yourself, including:

• Will I have to work to sustain myself and my kids?
• How soon will I need this job?
• How much savings should I accumulate for the adjustment period?
• Where will we live?

Create a Detailed Outline of Separation

Utilizing the court system or mediation, you and your spouse will create a plan for the future. Your attorney will help you understand your rights and obligations with regards child and spousal maintenance. Additionally, there may be restrictions on where you can and cannot move with your children. Finally, assets need will need to be divided so that you can plan for what you keep and which items need replacement.

Patience Is a Virtue

Although the goal is to have a quick and efficient divorce with as little trauma as possible, divorces can take years to settle into a new routine. If you plan for the process to take an extended period, you may be pleasantly surprised how easily things have the ability to fall into place without the added stress. If you are a stay-at-home parent considering divorce but are worried about how this will affect you and your children, contact a Lombard family law attorney at A. Traub & Associates. Call 630-426-0196 for a confidential consultation today.

Sources:

http://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2086&ChapterID=59