The Attorneys Of Stewart Sorice Farrell Finoli And Cavanaugh LLC

Property division can impact a woman’s financial situation

On Behalf of | Aug 23, 2018 | Property Division |

The dissolution of a marriage in Pennsylvania can understandably be perilous from a financial standpoint. Research shows that this is especially the case for women. Here is a look at what researchers have discovered about the financial impact of divorce on women and how those tackling matters such as property division can best protect financial futures.

Back in 2008, a study indicated that divorced women see their incomes plummet by over 20 percent and then remain low. Meanwhile, divorced men actually see their incomes skyrocket by around 33 percent. However, a new research study showed that women’s financial situations following divorce may not be as dire as once feared.

According to the recent study, a woman’s key to experiencing financial success following divorce is leaving her marital union with her own home. Researchers indicated that divorced women have historically fared better than women who are single and have never been married, as divorced women are more likely to own homes, which are oftentimes people’s biggest assets. For this reason, many women pursue the family home over other assets during their divorce proceedings.

Although owning the family home following a divorce can certainly be beneficial, pursuing it is not always the best move, depending on the circumstances surrounding the divorce proceeding. An attorney in Pennsylvania can help a divorcing spouse to make informed decisions when it comes to property division during a marital breakup. The attorney’s ultimate goal is to make sure that the client’s rights are protected and that his or her financial interests are safeguarded long term.