What should women know about money and divorce?

On Behalf of | May 24, 2021 | Divorce

Ending a marriage will affect virtually every area of life, and one’s finances are no exception. Money, the division of marital property and distributing shared debt are some of the most common reasons for litigation and contention during the divorce process in Virginia. It is important for women facing a divorce to know how to protect their financial interests during the proceedings, laying the foundation for a strong future.

Lessons for women

The divorce of Bill and Melinda Gates involves immense wealth and other business interests. Melinda will likely leave the marriage a very wealthy woman, and it is possible they will reach an out-of-court settlement satisfactory to both parties. Some things women can learn from this situation include:

  • Husbands sometimes out-earn their wives, but a wife can fight for a fair settlement, including proper division of marital property and spousal support.
  • Women should take the time to educate themselves about their own personal finances and learn how they can take control of their futures with smart money decisions.

Women may look at the Gates divorce and assume it does not apply to them because they are not billionaires. However, looking at a celebrity couple provides the opportunity to learn lessons regarding property division and money decisions in a divorce.

A strong future

It is easy to become focused on how one feels in the moment when going through a divorce. However, emotions rarely lead to decisions that will make sense long-term. When walking through a Virginia divorce, a woman may find it beneficial to look at what will make the most sense for her well into the future.