The rising cost of childcare and the stagnation of wage rate growth often results in parents sacrificing their careers, staying at home to offset expenses. According to Pew Research, in 2016, 18%, of American parents stayed at home.
Stay-at-home mothers traditionally suffer financial disadvantages during a divorce. Their spouses may deny them equal access to family accounts. They do not have employment and may have difficulty securing it depending on how long they have been absent from the workforce. As they start proceedings, there are certain actions that may help them.
1. Set aside an emergency stash
Divorcing stay-at-home mothers need to put what they are able to spare in a secure fund. Divorce proceedings may take a long time to complete, and they need money to survive and acquire legal counsel.
2. Prepare to gain additional education
If they do not have a diploma, a GED may help stay-at-home mothers with their job search. Further credentials, such as a degree or certification, may also aid in obtaining work. Even those without previous higher education may experience difficulty reentering their fields after the passage of a great deal of time unless they gain more education. Their knowledge may be out-of-date and they do not possess relevant recent experience.
3. Gather financial documents
Documentation such as pay stubs, W-2 forms, insurance policies, tax returns and bank statements help ensure that relevant parties receive a true picture of the financial quality of life afforded the mother and children originally. This aids the court in determining the correct amount of support to award. It may also help prevent the spouse from hiding assets.
Stay-at-home moms may experience worry due to their position. However, the law understands they made sacrifices and makes provisions to aid them in adjusting to their new lives.