As a woman considering divorce, you must understand the basic array of benefits available to you through this type of court proceeding. Despite some minor variations in divorce statutes in different U.S. jurisdictions, the basic provisions of these laws essentially are the same, according to the American Bar Association Section of Family Law.
Alimony or Spousal Maintenance
Alimony or spousal maintenance represents one of the benefits available to women in some divorce cases, according to "The Divorce Organizer & Planner" by Brette McWhorter Sember. As an aside, in some instances alimony ends up being paid by the wife to the husband. Alimony is designed to permit a woman the ability to restore her financial position and obtain a reliable means of generating income. For example, alimony can provide a woman the chance to further her education to obtain gainful employment. Most states use guidelines to establish alimony based in part on the respective incomes of each of the spouses and the length of the marriage. Additionally, in most jurisdictions, a court orders alimony payments for a specific, rather than indefinite, period of time.
Property Division
Divorced women will also receive an appropriate share of marital assets. The laws in each state adopt one of two different standards by which to divide marital property. The community property standard requires that a woman obtain 50 percent of all marital assets. The equitable division standard, a less precise guideline, directs that a judge provide each spouse with a fair share of property. The manner in which property is divided under the equitable division standard depends upon the specific facts and circumstances of the parties. Therefore, a woman with a greater financial need likely obtains a larger share of property.
Retirement Benefits
In some marriages, the husband is the primary breadwinner and the only partner with a retirement plan. The retirement plan itself is considered an asset of both spouses in the marriage, according to FindLaw. Such a plan is subject to division between the spouses. Cashing out a retirement plan early, at the time of divorce, results in negative financial consequences. A woman in such a situation can take advantage of what is known as a qualified domestic relations affidavit. This legal instrument allows the wife to obtain a proportional share of retirement payments at the appropriate time in the future when maximum benefits are realized.
References
- American Bar Association: Section of Family Law
- "The Divorce Organizer & Planner"; Brette McWhorter Sember; 2004
- FindLaw: Family Law Center
