Blog

Financial surprises are common in divorces. Women who are not fully aware of their marital assets, liabilities and other financial details may find themselves in a bind during this process. Prior to entering any property distribution discussions, it is a good idea for Louisiana women to consider whether they may encounter one of the common financial surprises.

One common nasty surprise women experience in a divorce is an unknown debt. For example, some may be unaware of the size of the primary mortgage. Credit card debt and student loans could also come into play, leaving liabilities that she may not have been expecting.

Other realities of post-married life can also come as a surprise. For example, some may assume that child support or spousal support would be higher. Others might believe they could keep the marital home, and be surprised when its sale is required for the divorce. The need to return to work and pay for one’s own health insurance can be particularly jarring for women who have left the workforce to care for their home and family.

According to a recent survey, 23 percent of women under 54 and 18 percent of women over 55 abdicate control of financial matters to their husbands. The less involved a woman is in her marital finances, the more likely she may be to encounter a surprise or two during or after the divorce. Those looking for support in dealing with property distribution, alimony and other financial matters should work with a Louisiana family law attorney.