If you are a stay-at-home parent going through a divorce, it can feel as though you are at a big disadvantage in the negotiations. Because you’ve been away from work for an extended period of time, you may not have the earning capacity of your spouse, and your earning capacity will play a role in issues such as child support and spousal maintenance.
The good news is that your status as a stay-at-home parent doesn’t preclude you from getting a positive result in your divorce settlement — it just adds a few challenges that you should prepare for. With this in mind, below are a few steps you should take to prepare for a divorce if you are a stay-at-home parent:
- Get access to money: Divorce can be costly, and you may need to start increasing your earning capacity quickly. Beef up your resume and begin looking for jobs. If you need to apply for public assistance in the meantime, it’s important to get on that right away. Keep in mind that if you get custody, you may also receive both child support and spousal maintenance (alimony).
- Adjust your budget: You’re not going to be able to maintain the same budget after you get divorced. Sure, factors such as child support and spousal maintenance (alimony) can help to level the playing field, but you’re not going to be able to maintain the exact same standard of living, so it’s important you adjust your budget accordingly.
- Don’t assume you must keep the marital home: A lot of stay-at-home parents especially want to remain in their marital home because of the home’s sentimental value, but you need to be honest with yourself about whether or not this is financially practical or realistic. If you can make it work, great, but you shouldn’t overburden yourself financially when you’re going to have plenty of other monetary concerns.
- Plan for your return to work: You are inevitably going to need to go back to work, so take the necessary steps to prepare for that. Determine your level of employability, and consider taking additional classes to update your training and skills. Look for positions that align with your experience and education, and also give you some flexibility as a single parent.
For further guidance on how you can get through a divorce as a single parent, meet with an experienced Minnesota divorce lawyer at Appelhof, Pfeifer & Hart, P.A.
