While it is most common for the husband to have the larger income, many women nowadays are actually making more than their husbands. While this is a positive step for women’s rights, it is problematic when the wife is going through the divorce settlement process.
Whether it is the husband or the wife who is the higher earner, special considerations must be addressed during the divorce process. One factor to keep in mind is whether a prenuptial agreement was signed. Having one may make the process considerably less difficult, as they are generally designed to protect the highest-earning spouse. Prenuptial agreements are frequently recognized as reasonable agreements of which property and assets are considered separate and which are not.
Another factor to consider is making sure to keep some or all of your assets separate during your marriage. By keeping a personal bank account that is separate from your husband’s, you are asserting your own financial independence, while also ensuring that your assets are clearly divided. Inheritance funds should also be separated, with only your name on the account to better ensure that you are entitled to these.
If you own your own business it is important that you do everything in your power to protect your business as well. There are several types of trusts and other legal agreements that may protect a person’s business when divorcing. In this event, it is important to seek professional advice.
Every divorce is different and it is especially important for women to protect their assets, so it is recommended that you seek the professional assistance of an experienced divorce lawyer practicing in the Riverside and San Bernardino counties who is experienced in fighting for the rights of a woman is entitled to in the divorce process.
Source: Forbes, “When You Earn More Than Your Husband,” Jeff Landers, April 10, 2013
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