In the news recently, most have heard stories about the wage gap. However, not many have heard the term divorce gap, which refers to the disparity between men and women during and after divorce proceedings. Many have the perception that women walk away from a divorce in much better financial shape than their male counterparts, or at the very least are able to live in the same comfort as they have been accustomed. Ohio readers may be interested that this has been shown to be false, as detailed in a recent article.
A professor at an internationally known school of economics researched the matter. He found that women who worked before or during their marriages generally see a 20 percent decline in earnings after a divorce, while men often see their income swell more than 30 percent. Also, the poverty rate of 27 percent for separated women is more than triple that of men. One of the main reasons for this is that women are far more likely than men to take off time working in a traditional job setting in order to raise and take care of children. However, though this particular research looks at male vs. female, it could easily be applicable to anyone who left the workplace to be a caregiver.
Because of this and other reasons, both men and women throughout the country feel trapped in a bad marital situation or are put in a terrible financial position during and after divorce proceedings. The article goes on to detail some new and innovative options that are available for anyone seeking a divorce. For example, at least one state is considering legislation that will create a simpler divorce format that steers clear of the court system and also utilizes language that is easy to understand for the layperson.
There are many options available for all types clients who are seeking divorce, so that they are not forced to remain in a toxic or loveless marriage. It may benefit people who are considering a divorce to discuss their unique personal and financial situation with an Ohio attorney who is well-versed in family law and divorce. The lawyer would be able to fully educate a potential client on the state laws and financial options available to help ease the inherently difficult divorce process.
Source: theatlantic.com, “The Divorce Gap“, Darlena Cunha, April 28, 2016