West Virginia women face many changes in their lives as a result of divorce. Some of these new realities are financial, and a lot of them are unfortunately unpleasant. Often, the new financial situation comes as a surprise to women who had a different expectation of their post-divorce finances.
Debt is one of the biggest problem areas after a divorce. If the divorced couple had a joint account during the marriage where both of their names were on it, both spouses are responsible for the debt after the divorce. Even if one spouse only co-signed on a loan, they are still legally liable for the debt after the divorce if the ex-spouse defaults. In addition, the amount of child support that a woman receives may be less than her expectations. As a result of this and other new financial realities, a woman who was planning on remaining at home with the children may now need to reenter the workforce.
Moreover, women are often surprised to learn that the marital home must either be sold or that it is their husband who is able to remain in it. Another shock may occur when they have to get their own health insurance policy and realize the cost of the premiums. Health insurance is expensive even when it is covered through work.
In order to avoid being surprised by these occurrences, education and preparation are necessary. A divorce attorney may help inform their client of the possible scenarios after the divorce so that they can prepare for them. There may be provisions of the divorce agreement that help prevent some of these situations from being a burden on the client after the divorce is final. However, these issues can only be dealt with if they are known before the agreement is signed.
