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Financial And Emotional Implications of Divorce

 

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Financial And Emotional Implications of Divorce

While there are many implications of divorce, women are often the financial victims of divorce due to the lack of equal pay for equal work in many countries and the fact that many women give up employment after marriage to rear children. They are often left with the burden of looking after the children after the divorce while having to find work in low-paid jobs. Child support collection is a major problem as many fathers do not accept that they have an obligation towards their children. Many national and local governments provide some kind of welfare system for divorced mothers and their children.

Men are generally the financial victims of divorce due to court-ordered alimony and child support which women often are not required to pay, and the fact that many men are entirely denied custody of their own children. Some men are left with the burden of never seeing their children, which is a major problem as many mothers may relocate the children, not accepting that they have an obligation to provide a stable and supportive family with both parents involved. Although women are less likely to pay child-support, they are more likely to neglect support payments when they are required. Unfortunately, the aspect of family stability is one argument stated against same-sex marriage, since court orders against men and child neglect by women are no longer defensible one-way legal benefits. Recognition of the problems faced by fathers and other relatives is given by self-help groups such as Families Need Fathers.

The fact that women often receive primary custody of their children means that some men are are unable to see their children as frequently as they would like, and this is particularly difficult if one ex-spouse or the other moves. Currently in the US, federal law makes non-payment of child support an automatic felony, whereas a mother's refusal to let the father see his children in accordance with court decisions is not an act criminalized by the federal government.

In the USA, a spouse who resides in a community property state and lacks a prenuptial agreement is at a disadvantage if he or she earns more than the other spouse. In these states, the property is split 50/50 regardless of who earned the money. Thus, the spouse who would be the least well off on their own receives unearned money, property, and/or other assets upon the divorce settlement. Theoretically, a spouse with zero assets would get 50 percent of the other spouse's assets (possibly not counting pre-marriage assets and inheritance), while two spouses equally wealthy would both keep their share. This is true even if the poorer spouse has committed adultery or initiates the divorce them self. Judges have no power to rectify the situation, and must divide the property evenly no matter how unfair the result may seem. This can generally be avoided if both parties enter into a prenuptial agreement before marriage, though courts sometimes overturn these agreements. While men have traditionally had more assets than women and were negatively affected by community property laws, nowadays more and more women are the wealthier spouse, and are affected as well. Most states in the USA are not community property states. However, some large and populous ones such as California, along with a few smaller ones, are community property states.

In some jurisdictions, only a small minority of divorces involve families with children. For example, in Scotland in 1997, there were 2461 divorces involving children but 9761 of couples with no children under 16.

 

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Financial and Emotional Implications of Divorce News
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Know Your Tax Facts On Divorce And Separation FTAdviser.com FT Adviser
FT Adviser Know your tax facts on divorce and separation FTAdviser.com FT Adviser The summer break can be a testing time of juggling work and family commitments and lawyers have seen an increase in divorce applications peak after the and more raquo

Research Reveals That Divorce Does Run In The Family New Zealand Herald
Research reveals that divorce does run in the family New Zealand Herald According to the Daily Mail, the research, genetic factors are the primary explanation for the divorce trend, and the new findings could have implications for the advice provided by marriage counsellors or therapists. The new study, which will be and more raquo

Does Divorce Run In The Family This New Study Says It Might Be In Our DNA Mi...
The Independent Does divorce run in the family This new study says it might be in our DNA Miami Herald Learning that genetics play a role in making divorce more likely generation after generation is an important development and it could have major implications for how therapists and marriage counselors handle divorce. I see this as a quite Divorce runs in families and could be genetic, study finds The The Independent Divorce pattern may be genetic, says studyDeccan Chronicle Study finds divorce runs in families and could be geneticOutlook India all 21 news articles raquo

The Brexit Divorce Bill Made Simple Comes In At Just 10bn Financial Times
Financial Times The Brexit divorce bill made simple comes in at just 10bn Financial Times the divorce, or rather disengagement, payment would amount to 14 per cent of 72bn: about 10bn, equivalent to somewhat less than 9bn much less than often assumed. The implications for the current Brexit negotiations are clear: the financial

When It Comes To Divorce, Not All Assets Are Equal CNBC.com CNBC
CNBC When it comes to divorce, not all assets are equal CNBC.com CNBC Financial advisors say there are some costly mistakes to avoid at the negotiating table. and more raquo

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Facts of Law - Financial and Emotional Implications of Divorce