A divorce can be the worst emotional and financial situation a woman can go through in her life. Many women stay home to take care of and raise the children while their husband works. Other women might work part time or a job that pays less money than their husband.
Women who are in these types of situations and facing a divorce need to learn their rights. Protecting themselves during this difficult time is important for their financial future and the welfare of their children. Failing to exercise their rights could result in devastating financial consequences once the divorce is final.
Alimony, Spousal Support, Or Maintenance
Every state has their own term they use when a husband has to pay his wife a monthly amount during or following a divorce. In many states, a woman is eligible to receive money from their husband if their husband’s income is significantly higher or more than a wife’s. Women who have been married for a long period of time are more likely to receive support than a woman who was only married for a few years.
How Long Will Support Last?
The type of support a woman receives will determine how long they will receive it. Rehabilitative support will last for a few years and is designed for a woman who needs to acquire job skills to improve their income potential. A woman can file for this type of support as soon as the divorce is filed.
Even if a woman doesn’t contribute to a monthly mortgage payment, they are entitled to a portion of the equity in a home. The only exceptions to this rule are if a husband used inheritance money for a down payment or if premarital funds were used.
Woman rights in divorce also include being entitled to receive a portion of a husband’s retirement account, even if the husband didn’t make actual cash contributions. The amount a woman is entitled begins the date of the marriage until the couple separates. Determining the figure, a wife is entitled to is very complicated, and an attorney should be involved in this part of the process.