In today’s modern society, both men and women are free to quit their jobs to stay at home with the kids. For some Maryland residents, this plays out for the best in the long term – but the decision can be disastrous for others. When it comes down to property division during divorce, how do you intend to make ends meet? Experts in the field say that both men and women should do some serious thinking about whether they are prepared for the ramifications of choosing to be a stay-at-home spouse.
Scores of stories and anecdotes support the fact that exiting the job market early can make life far more difficult down the road. Men and women alike have found themselves with very few business assets as they head into their divorce – those assets include marketable skills that will help them make money. As you go through the property division phase of your divorce, it is important for you to remember that you may have special rights as a stay-at-home parent. Dividing property in a fair and rational matter is critical to your post-divorce success.
First, individuals who have stayed at home for several years may be entitled to alimony or other types of support that can help them get back on their feet. If you have been out of the job market for a long time, it is possible that you need more education in order to be competitive and support yourself alone, especially in this down economy. A qualified divorce attorney can handle complex matters like alimony and child support, both of which can ease the burdens of a former stay-at-home spouse.
Even those who are happily married can benefit from taking stock of their personal assets and career options. Although we hope the unthinkable never happens, divorce is a reality for many Maryland couples. Both spouses need to be prepared to support themselves and their children independently if the need arises.
Source: www.huffingtonpost.com, “Married ladies: Don’t quit your day job – ever” Pauline Gaines, Dec. 01, 2013