What High-Earning Women Need To Know About Divorce

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Women face a lot of pressures that men might not relate to. Societally, these pressures might even not be acknowledged, but what happens when this pressure comes from being a high-earning wife?

Divorce can be a difficult and emotional process, especially when the parties involved have different incomes. In the past, it was more common for men to be the primary breadwinners in a marriage, but now, women are increasingly taking on that role. This shift has created new challenges when it comes to divorce, particularly for women who earn more than their husbands.

If you’re a woman who earns more than your husband and you’re considering divorce, there are several things you need to keep in mind.

Defense is the best Offense

In order to safeguard yourself if you expect to earn a higher amount throughout your marriage you should consider a prenup. Even if your earning potential is not an immediate consideration and prenup can safeguard you from a messy divorce (if that were to ever come about). 

A prenuptial agreement is commonly created to avoid facing an inequitable distribution of assets in the event of a divorce. While it was once deemed impolite to request such an agreement, nowadays, prenups are becoming more widely accepted as sensible and considerate arrangements between soon-to-be spouses, outlining which assets will be classified as marital property and which will be retained as individual property.

The contents of a prenuptial agreement are highly personalized and reflective of the individuals who are party to it. A well-crafted agreement is a multi-faceted document that is tailored to the specific financial circumstances and objectives of the couple involved. Engaging the services of a proficient and knowledgeable family law attorney in Colorado can help make the process of creating a prenuptial agreement relatively uncomplicated. Nonetheless, the process of finalizing the agreement can be lengthy, owing to the various negotiations that must occur between the parties. So, retaining an experienced family law attorney is probably the best route. 

Don’t Get Taken Advantage Of When It Comes To

Should I Keep The House?

One of the most significant considerations when it comes to divorce is asset division. In many cases, the higher-earning spouse may have more assets, including property, investments, and retirement accounts. 

Take the family home for example. Should you consider keeping it? If you and your ex will be apart that means a downsize could be logical. But, if you’re a high earner you might be pressured to keep the house for appearances. You might not want your community, peers, and family to think negatively about the aftermath of the divorce. You might not want to appear as a bad mother by taking your children out of the family home. But, what if the house is unrealistic to keep up. A bigger house means a bigger mortgage, repair bills, and overall costs. 

Keep Your Own Bank Account

Our recommendation, regardless of your current marital status, is to establish a private bank account that your husband can’t get into. This method provides one way to keep a degree of authority over your financial affairs. Remember, Colorado is an equitable distribution state. That means that marital assets won’t be simply split 50/50. Still, you should be aware of how marital assets and marital debts are distributed. It’s not always going to be the courts that determine what will be split where and how. Working with an attorney and negotiating an equitable division which can then be presented to the courts is probably what can get you to protect your assets.

Contact Our Denver Divorce Attorneys For Your Divorce

At The Drake Law Firm we help clients find the right solutions for their divorce. Divorce sometimes entails a tailored division of assets and property. It can also come with personalized considerations for child support, child custody, and spousal support. No matter what unique aspects your divorce might come with, we’re here to help. Give us a call at (303) 261-8111 or fill out our online form here.

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