When considering divorce women’s number one concern is usually money! Now more than ever, women are taking control of their finances and acknowledging they need to be financially prepared if considering divorce.
Even with this awareness, some women are still leaving their financial futures in the hands of their husbands or ignoring it altogether. Women often face difficult financial challenges during divorce.
Women’s financial needs are actually different from that of men. Women face unique challenges that men don’t. For example:
1. women live longer than men. On average, 7 years longer, so they need 20% more retirement income;
2. women earn about 25% less than men;
3. since women are still the primary caretakers for children, more women than men take some time off to raise kids as well as care for aging parents, which results in lower total earnings, reduced Social Security benefits and less savings;
4. because of motherhood, women often save less money than men;
5. women are more conservative in their investments;
For women considering divorce you need access to money. You will need to pay a retainer to hire an attorney or mediator to start your divorce process.
I tell my clients it’s never too late or too soon to start financial planning if you are thinking of divorce.
It’s time to start educating yourself. You need to take stock of your household expenses, income, finances, investments and debts. If you don’t know about the family finances, whether your husband has a pension, where the assets are, or if your name is on the title of the house, etc., it’s time to get informed. You can no longer live in the dark.
Ariana, a mom of three and an antique dealer, called me three months ago because she wanted a divorce. She explained she was ashamed to admit she had allowed her husband, a financial planner, to handle all the finances. She further explained she had no clue about their investments. I told her not to be embarrassed, and that this was not uncommon. More women than you think allow their husbands to manage the family’s finances. I assured her there were ways to figure this out, and that’s what we did!
Ariana and her husband Ben worked everything out using my successful mediation process. Their divorce papers were just filed. Ariana was pleasantly surprised by the outcome. She and Ben were able to civilly discuss and agree upon a fair financial settlement with my guidance using my comprehensive mediation methods.
It takes a divorce attorney/mediator with sophisticated knowledge to do the strategic planning necessary to get you the best possible financial deal when divorcing.
With more than 35 years of experience as a divorce attorney and mediator, I have the expertise to skillfully create a financially viable plan for you and your family.
Don’t stay in a unhappy, unhealthy marriage that’s just dragging on and on because you are afraid you won’t be able to provide financially for yourself or your family. We can discuss the costs of mediation vs. litigation and how you can financially prepare to take the first step.
I can also share with you some of the financial tools available to you
from the financial experts that are part of my team.
All our FREE 1-HOUR CONSULTATIONS areconveniently conducted virtually to reduce risk.
I look forward to showing you that providing for your financial future is possible. Let me show you!
Stay healthy and safe!
Warm regards,
Lois
Call New York Divorce Lawyer and Mediator Lois Brenner now to book your free consultation.
We still have appointments available this week.
Call 212.734.1551