${site.data.firmName}${SEMFirmNameAlt}
CALL NOW for a FREE Phone Consultation!
Phone Icon678-926-9234
Speak with Attorney Ed Hecht live 7 days/week 8am—9pm

How women approach retirement after divorce

Divorcing couples in Georgia may discover that the separation process can have a significant financial impact. Ex-wives are especially affected, with one 2008 study showing that the average income of divorced women sinks by more than 20 percent while the income of divorced men actually increases by almost 33 percent. However, there are ways for female divorcees to prepare for retirement.

According to the results of a study from Boston College, the long-term financial state of a divorced woman will be more favorable if they leave their marriage with possession of the home. When it comes to asset accumulation, homeownership is an important factor in why divorced women have a history of faring better than single women who have never been married.

While getting the home in a divorce may seem ideal, it's not always the wisest option. Many financial advisors and divorce attorneys have divorcing female clients who want to keep the family home even though they are unable to afford the costs of the mortgage, property maintenance, taxes and unexpected emergencies. In some cases, retaining ownership of the home may not be the most ideal option if there is another significant asset available.

A divorce attorney may advise clients about which legal avenues should be pursued to obtain the desired results regarding property division. Legal counsel could engage in negotiation to ensure that a client is able to retain marital assets that can be used to finance their retirement years. By resisting emotional entanglements during a divorce, an ex can get prepared for the future.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Ask Us Your QuestionsSubmit this form, and you’ll hear from us very soon.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Hecht Family Law
12600 Deerfield Pkwy
Suite 125
Alpharetta, GA 30004

Phone: 678-926-9234
Alpharetta Law Office Map

review us