We conclude the two part series on matrimonial law with a look at navigating divorce. (Part one link)
In this episode, matrimonial lawyer Lisa Zeiderman shares practical steps and considerations for divorce. This includes gathering financial documents, maintaining a civil demeanor, and understanding custody arrangements.
We explore the challenges faced by women over 50 and their potential earnings after being out of the workforce. We also discuss how high-earning executive women face role-reversal when they become the ones responsible for spousal support and child support payments.
- Get Prepared: Gather and secure (preferably outside the home) the last 5 years of financial documentation.
- Stay Civil: Maintain civil and respectful communication personally and on social media to avoid negative consequences. Foster a healthy relationship with ex-spouse for the benefit of the children.
- Be Clear: Know who is responsible for what when it comes to child care, support, and add-ons such as college tuition, medical care, extra-curricular activities, etc.
- Keep Detailed Records: Without fail, send ex-spouse monthly receipts, spreadsheet of expenses even if they do not respond or provide their court mandated support. This meticulous record keeping is the proof you will need for a strong case before the courts.
- Get Help: If you are experiencing any form of abuse, whether financial, emotional, or physical, seek help from relevant organizations.
Navigating divorce requires proactive steps and sound decision-making throughout the entire process. If you are considering or going through a divorce, take the necessary steps to gather financial document and seek professional advice.
Bobbie Wasserman is the founder of Single Lady Estates® and host of the Single Lady Estates podcast. The mission of Single Lady Estates is to empower women in building financial stability for them and their families through homeownership. We do this by providing educational resources, advocacy efforts and connecting women with resources and networks that can help enhance the homeownership journey – buying, selling and life in between.
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