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Tips for Divorcing as a Stay-at-Home Parent | Allan Brandon Tise, PLLC, Attorney at Law
Aug 03, 2021
Stay-at-home parents may struggle more than their working counterparts during divorce. However, that will not be your situation if you prepare thoroughly. Below are some helpful preparation tips.
Open Financial Accounts in Your Name
Many stay-at-home parents depend on their spouses for financial resources. You might not even have financial accounts in your name as a stay-at-home parent. If you are in such a situation, open financial accounts, such as bank accounts and lines of credit, in your name.
Having financial accounts in your name will help you in several ways. For example, you should be able to access money or purchase things without involving your spouse. The accounts will also help you protect your credit rating.
Gather Financial Knowledge
Educate yourself on your family finances as much as possible - if you have not been doing that already. Specifically, you should know:
- How much your spouse earns
- How many assets you own
- The monetary value of the assets you own
- Your household's monthly budget
- Your family debt situation
You will need the information once the divorce gets underway. For example, your household's monthly budget can help you determine the alimony to request.
Some people also hide assets when going through a divorce so as not to divide the assets with their spouses. Divorce brings out the worst in some people, so your spouse might act like that too. Gathering the information as soon as possible can help you unearth hidden assets and debts.
Gather Financial Documents
Do not just gather financial information - get the necessary paperwork you can use to prove your claims. Some of the paperwork you need include:
- Deeds
- Past tax returns
- Financial statements from your businesses
- Registration paperwork for your businesses
- Bank statements
- Credit card statements
- W-2s, 1099s and recent paystubs
Get copies of these documents and keep them in a safe place - preferably anywhere apart from your marital home or your car.
Set Up Mail Addresses in Your Name
You might not have addresses in your names, such as email or delivery addresses, if you depended on your spouse for a long time. Set up these types of addresses as soon as possible. You need them for the safe delivery of critical documents and communication. For example, you should be able to communicate with your lawyer without worrying about your spouse's snooping on you.
Note Your Homemaking Activities
Stay-at-home parents often do most, if not all, homemaking activities. For example, you are likely the one who:
- Takes care of the children whenever they fall sick
- Prepares the kids for school
- Helps the kids with homework
- Ensures the house is clean
- Shops for groceries
- Ensures the kids keep their dental appointments
If that is the case, start documenting these activities and look for relevant proof. Even testimonies from neighbors can come in handy. The documentation will work in your favor during custody, spousal support, and assets division discussions.
Start Looking For Divorce Money
Divorce costs money. You need money for multiple things, like lawyer fees, expert fees, court filing fees, and document production. Ideally, your marital resources should cover these costs. However, that might be difficult if your spouse controls your family finances. In such a case, you can:
- Petition the court for a cash interim distribution
- Take out a loan
- Use your credit cards
Other options are possible depending on your circumstances. Consult an attorney who will evaluate your circumstances and help you determine the best alternative.
You do not have to have a lawyer to divorce, but you should get one if at all possible. Otherwise, you could be at a disadvantage during the divorce. Contact
Allan Brandon Tise PLLC, Attorney at Law, for all your divorce needs. Let us do our best to ensure you get the divorce settlement you deserve.
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