Tuesday, June 29, 2010

Are You Financially Prepared In Case You Get Divorced?

A Stanford University study on the effects of divorce revealed that the standard of living for women drops tremendously in the first year after a divorce. That’s pretty surprising to learn in this day and age, yet, so very true. In fact, just recently, a friend of mine mentioned that while she was married her husband had run up a huge amount of debt without her ever knowing about it. Odd as it may sound, even though they had joint bank accounts, she was not aware of what he was doing, at least not until they got divorced. As a result, she’s been left with a lot of debt because she was so unprepared for the worst. The saddest part of it all is that she never even established her own credit rating and yet now she has a bad credit report.

The Impact of Divorce
As amazing as it may seem, even in today’s modern world, many women still believe that once they marry, their husbands will take care of them. What they often neglect to consider is that approximately 1.25 million divorces occur each year, which means more than two and half million people are impacted by divorce and that doesn’t even take into account the children. And more often than not, it’s the women who are left without money to hire a lawyer or handle bills and many are stuck with the dilemma of how they will support themselves after the divorce.

The Things to Consider Before a Divorce Happens!
Regardless of how well you think your marriage is going, it’s never a good idea to leave yourself vulnerable and without financial support. A smart woman makes sure that she has money on hand in the event that she needs to hire a lawyer to represent her if divorce occurs. In fact, every woman should plan for her financial future regardless of her marriage situation. They should have cash on hand for living expenses, lawyer fees and other incidentals that always crop up.
StraightDivorce Staff

To read this article in its entirety, please click here.

For more information, contact the Family Law Offices of Renee M. Marcelle at (415) 456-4444, or online at http://www.familylawmarin.com/--

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