If you were a stay-at-home mom while married, and your marriage has ended in divorce, you may be feeling worried about your future and how you are going to be able to provide for your children. Fortunately, surviving financially for a stay-at-home mom after a divorce in Virginia does not have to be as challenging as you might have previously thought.
It may feel as though you’re climbing an uphill battle, but there are certain steps you can take to make the process go more smoothly for you and your family. Reach out to a dedicated Virginia divorce attorney at Olmstead & Olmstead for help protecting yourself and your future. Call our office at 703-361-1555 to schedule your no-risk case review.
Make Sure You Get Your Share of Marital Assets
If you hope to survive financially after your divorce, despite previously having been a stay-at-home mom, it is critical that you get your fair share of the marital assets. Virginia is an equitable distribution state. This means that when you get divorced, your marital assets are not divided down the middle. Instead, they are divided fairly and equitably – as determined by the court or through private negotiation.
This means that you have a stronger chance of securing the marital assets that are most important and valuable to you. If you have concerns that your spouse may attempt to take advantage of you during the division of your property and assets, make sure you have a dedicated divorce attorney advocating for your rights.
Seek Spousal Support
As a stay-at-home mom, you relied on your spouse’s income to support your standard of living. For this reason, you may be entitled to alimony. The length of time that you can collect alimony will vary depending on the details of your case. Your educational background, employment history, and other factors will all play a part in whether you are awarded spousal support, how much, and for how long.
Your attorney will be responsible for fighting for the maximum amount of alimony for the longest amount of time so that you and your children have the financial support you need to rebuild your lives and become self-reliant.
Prepare Your New Budget
Now is also the time for you to take a hard look at your budget. If you are still currently a stay-at-home mom, now may be the time for you to start looking at what your future may hold. How are you going to bring in an income that is separate from any spousal support or child support you might receive?
Chances are that your alimony will be set for a specific period of time. It is important that you take this into account when you are formulating your budget. Keep in mind all of your regular monthly expenses, including smaller purchases to ensure that every cent is accounted for.
Update Your Estate Plans
Another important step that you have to take if you hope to survive financially after your divorce is to update your state plans. If you and your former spouse previously formulated estate plans, it will be critical that you update your beneficiaries, heirs, close all shared accounts, open individual accounts and begin to rebuild your finances.
If you fail to make these changes and something happens to you, you don’t want to run the risk that your spouse will be entitled to your money or be responsible for making your decisions for you.
Contact a Divorce Lawyer in Virginia Today
You may have spent your married life as a stay-at-home mom relying on your partner financially. But now that your marriage has ended, you need to take steps to secure your future and that of your children. Make sure that your divorce settlement comes out in your favor.
Get help from an experienced Virginia divorce lawyer at Olmstead & Olmstead. Fill out our convenient contact form or give our office a call at 703-361-1555 to schedule your initial consultation today.