Getting a divorce presents many challenges and concerns. Spouses face many changes regarding money, living arrangements, child custody and more.
For stay-at-home parents, divorce can be particularly stressful. It can feel overwhelming to consider what your future holds when you have not been a part of the workforce.
Dedicating years of your life to staying home and caring for the house and children can leave you with many additional stressors during a divorce. Without a career, you may worry about how you will pay the bills, where you can find a job and who will care for your children. Will you be able to stay in your current house? How will your family’s lifestyle change?
Understanding divorce laws
While everyone experiences financial changes during a divorce, stay-at-home parents can suffer significant monetary losses. Understanding your options and rights can help you secure a fair settlement. Maryland is an equitable distribution state and divides your marital assets fairly but not necessarily equally.
When you have records of your assets and liabilities, you have a better chance of getting the settlement you deserve:
- Gather any financial information you can access
- Compile documentation stating the value of any marital assets
- Collect records of any bills, loans or other debts
- List an inventory of valuable possessions
- Create a detailed budget
- Make a plan for getting employment
Maryland has several types of alimony to address different circumstances. To determine if payments are appropriate for your situation, a judge looks at many factors, including:
- Physical and mental health
- Marriage length
- Contributions to the marriage
- Education level
- Standard of living
Providing essential child care and household services enabled your spouse to focus on career development. You have a legal right to a divorce agreement that considers and compensates for this.