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Divorce Can Take a Toll On Finances For Both Parties

On behalf of Tasha K. Schaffner of Schaffner Family Law posted in divorce on Thursday, August 23, 2018.

It is often thought that a man will absorb most of the cost when a marriage ends. However, either party can sustain significant monetary damages if the spouses choose to make the divorce process more acrimonious. Kentucky residents who are preparing to file for a divorce may benefit from seeking experienced advice in order to preserve one’s financial security.

One woman shared her experience when she and her husband sought to end their marriage. According to this former wife, she was the primary provider both before and during the 11-year marriage. She earned a comfortable six-figure salary in her profession while her husband struggled to build a career as a stylist. She recounted how she provided the majority of their lifestyle and also paid the cost of achieving a successful pregnancy.

After the birth of their daughter, the husband reduced his workload in order to purportedly care for their child. The strain on the marriage became unsustainable, and the husband filed for divorce and primary custody — which he did not receive. The woman claims that she wound up paying the costs for the divorce, including for the additional professionals who were brought in after her spouse alleged that she suffered from mental illnesses.

The woman says that her divorce cost approximately $250,000. She resorted to selling her apartment and was required to split her retirement savings. In addition, she was ordered to provide spousal support for two years. She claimed that, had her ex-husband accepted her initial settlement proposal, they both would have fared better financially.

This case may not be the exception since women are experiencing greater success in the workplace than they did a generation ago. Every family’s situation is unique and requires an individually tailored approach when it comes to a divorce. Kentucky residents do have the option to consult with experienced professionals who can help them reach the settlement agreement that can help them maintain a secure financial footing.

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