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Ten Financial Tips for Women Seriously Considering Divorce
1. Get informed. In order to have an idea of where you stand financially after divorce you need to figure out your financial status as a married couple. Gather all of the documents pertaining to your assets and liabilities. Each current account statement, whether it’s reporting the mortgage balance, credit card balance, Individual Retirement Account value, student loan, etc.
How to Handle a Divorce While Pregnant
Pregnancy and divorce don’t usually go hand-in-hand, but some couples find themselves in this situation. The emotions and hormonal changes that accompany pregnancy might complicate your situation further. Because there is a baby involved, you will also have to deal with custody arrangements once you deliver the child. A support system and a plan for the future helps you navigate through the divorce while keeping yourself healthy during the remaining months of your pregnancy.
Employment Laws for Pregnant Women
If you’re working while you’re pregnant, you are protected under certain laws. Pregnancy will require time off, both for regular prenatal appointments and for when you actually have the baby. It’s important to understand what your rights are as an employee so that your employer treats you fairly. It is unlawful for you to face any discrimination due to your pregnancy.
Divorce & IRA Accounts
During the course of a divorce, any assets you and your spouse had will need to be divided. With the help of your lawyers or a mediator, you will decide who gets what property, how to divide your savings and how to divvy up the retirement accounts. Splitting up the 401(k)s and the IRAs is a bit trickier than simply dividing a regular savings account.
Divorce & Life Insurance
The purpose and need for life insurance doesn’t go away when couples split up. Life insurance can provide the resources to raise children when one or both parents die, and it can replace spousal support that a deceased ex would have paid to the lower-earning party in a divorce. Continuation of life insurance is often an element in court orders and settlement agreements in divorce proceedings.