What The Numbers Reveal About Divorce Finances

Check out what the US Survey Data says about Divorce and spousal support.

by Jonathan Livnat
MAJORITY OF EX-HUSBANDS DON’T HONOR THEIR FINANCIAL OBLIGATIONS. WHAT THE U.S. SURVEY DATA REALLY MEANS?

“The sad truth of the matter is that the majority of ex-husbands simply don’t honor the financial terms of their divorce settlements. Moreover, it can be exceedingly difficult to get your non-paying ex to make good on his obligation for spousal support.” Jeff Landers[1]

Despite the fact that there are many legal ways to convince spouses to keep their financial obligations to pay alimony, child and/or spousal support, in reality, many find ways to avoid payments, not to mention cases in which the law justifies the discontinue of payments.

From the information gathered from the U.S. Survey Data about divorce in U.S.A. we learn that in the vast majority of the cases, mothers are named to be the custodial parent. We also learn that alimony, child and/or spousal support are not a sure thing or forever, as over half of the non-custodial parents have paid only partial payments or not at all. When adding the fact that half of the custodial mothers did not have a steady job (or did not work all), it is clear that mothers who go through divorce are exposed to major financial risks once the divorce is finalized. These financial risks should be of great concern especially to mothers who choose to keep the marital home.

Having a job that cannot support paying the bills and depending only on the ex’s support can turn out to be a huge financial mistake, one that will be almost impossible to fix and very hard to recover from. Mothers should seek the guidance and advice of real estate divorce specialists to make sure they make informed decisions before they sign their divorce papers and before it’s too late.

The reality described by the U.S survey data [2]

Children living with a parent who divorced in 2009 were more likely to live in a household headed by their mother (75%) than in a household headed by their father (25 %). In 2011 81.7 % of custodial parents were mothers and 18.3 were fathers.
The age of custodial mothers has increased over the past 18 years. While in 1994 25.4% were 40 years or older, by 2012 the proportion had grown to 39.1%
47.8% of custodial mothers were non-Hispanic White, more than one-quarter were Black 27.5 %, and 21.4% were Hispanic. Custodial fathers were more likely than custodial mothers to be non-Hispanic White 60.6%, less likely to be Black 16.3%, or Hispanic 18.8%. While the majority of custodial parents had one child 56.8%, custodial mothers were more likely than custodial fathers to have two or more children living with them in 2012 45.3% and 33.7%, respectively).
Nine of every 10 custodial parents (89.2 %) who were due child support were mothers.
43.4 % of custodial parents due support received all payments they were due. 30.7 % received some, but not all child support. 25.9 received no payments from their children noncustodial parent.(2011)
Women who divorced in the past 12 months (2012) were more likely than recently divorced men to be in poverty (22 percent compared with 11 percent).
The educational level of custodial mothers increased during the past 12 years. In 1994, 22.2% of custodial mothers had less than a high school education, and 17.1 % had at least an associate’s degree. By 2006, the proportion of custodial mothers who had not graduated from high school decreased to 15.1 percent, and the proportion with at least an associate’s degree increased to 25.6 percent. In 2012 it grew to 30.4%.
Custodial mothers were less likely than custodial fathers to be employed, with one-half (50.1 percent) having full-time, year-round employment and more than one quarter (28.5) having part-time or part-year employment in 2005.

REAL ESTATE DIVORCE CONSULTING IS HELPING DIVORCING SPOUSES WITH MARITAL PROPERTIES PROTECT THEIR FINANCIAL FUTURE AND THEIR CHILDREN’S. OUR GOAL IS TO HELP YOU GATHER ALL THE INFORMATION AND DOCUMENTS YOU NEED IN ORDER TO MAKE EDUCATED DECISIONS. WE BELIEVE THAT IF YOU ARE PROPERLY INFORMED ABOUT THE RISKS AND COMPLICATIONS AHEAD OF YOU, BETTER DECISIONS WILL BE MADE. WWW.REALESTATEDIVORCECONSULTING.COM

References:

[1]. http://www.forbes.com/sites/jefflanders/2014/02/19/how-to-get-your-ex-husband-to-honor-the- financial-terms-of-your-divorce-settlement/

[2]. https://www.census.gov/prod/2013pubs/p60246.pdf)

http://www.census.gov/newsroom/releases/archives/marital_status_living_arrangements/cb11- 144.html

http://www.census.gov/prod/2007pubs/p60-234.pdf

#alimony #divorce #childsupport

Latest posts by Michelle Zudeck (see all)