Texas residents who have gone through the divorce process realize the toll that divorce can take. Both men and women are affected by divorce, but there is a body of evidence indicating that the way it affects them is different.
An example of this is the financial impact divorce has on women in comparison to men. On average, women earn 81% of what men earn. When their marriage comes to an end, women may experience a decrease in income of around 20% on average. Men, on the other hand, might see an increase in their income to the tune of around 30%.
When a woman’s marriage comes to an end, her chances of ending up in poverty are three times those of her male counterpart. Add to this the fact that in around 90% of custody cases, custody is granted to the mother, and it is understandable why the financial impact of divorce is devastating for some women.
Since women are granted custody in the majority of divorces, they are usually concerned about how their divorce will impact the children. A major concern that women have is whether they will be able to financially care for the children and be able to save enough money to cover their future schooling.
Many see a key to a woman’s success after divorce in her ability to take care of herself. This means caring for her financial needs by seeking advice from financial experts. This also means caring for her physical and emotional health by talking with a therapist, minister, physician and other professionals.
The divorce process can be a challenge for many. Financial issues associated with divorce are complicated, and many women have seen the benefits of talking to a family law attorney. An attorney may be able to help their client by explaining the laws pertaining to property division, property valuation, spousal support, child custody and other divorce legal issues.