If you are a stay-at-home parent, you probably know that keeping a household properly running is difficult even when your marriage is harmonious. Adding a potential divorce to the mix can make things even more complicated as well as uncertain and stressful. Many stay-at-home parents have specialized concerns when facing a divorce, and there are some tips you can follow if this describes your situation.
One thing that most stay-at-home parents worry about is how they will afford to move out and support their children during the divorce. Minnesota law takes this into account, and you can file for temporary child support or temporary spousal support. Temporary support means that the court will order the spouse who generates income to start providing financial support right away, despite the fact the divorce is not final. This temporary support can give you the resources you need to move out and provide for your children while you decide what your goals are for the future.
Another tip for a stay-at-home parent will be to start making notes about the location and value of particular assets. In some cases, the spouse who works outside the home handles most or even all of the financial decision-making. As a stay-at-home parent, you may not be very familiar with the economic resources of your family. It is not necessary for you to have exact copies of bank balance sheets or other investment account statements. Make notes about which accounts you know about in as much detail as you can and provide your list to your attorney.
Third, you need to start thinking about your future. Although you may be awarded temporary spousal support, permanent spousal support is not common and is reserved for marriages of very long duration. Accordingly, you will need to start considering whether you want to pursue a new career path, return to school for additional certifications, or return to your former career path. Whatever your choice, you need to understand that the court will likely expect you to have a plan to become financially independent after the divorce.
Finally, understand that your marital property will be subject to an equitable division. Marital property is comprised of most of the property you and your spouse have acquired during your marriage. This includes property that does not have your name on the financial account. For example, retirement benefits that your spouse acquired during your marriage will still be subject to division in your divorce.
We have helped many people understand the divorce process and what to expect. Call us today at 651-371-9117 to talk about your case.