Dannenbaum Law Firm, PLLC

May 2019 Archives

How Virginia parents can financially prepare for a divorce

Virginia parents who are going through a divorce should consider how the divorce might affect their finances, and therefore their child's educational future. A study from Sociological Science found that the financial repercussions of a dissolved marriage may deter white children from attending college. The same study found that nonwhite children were not as badly affected. The study states that this is because white parents are generally in better financial situations than parents who are not white, so they tend to have more resources to lose following a divorce.

When wives earn more, the risk of divorce increases

In marriages where the woman earns more money than the man, a lot of tension and complications can arise. According to the Bureau of Labor Statistics, wives make more than their husbands in about 38% of marriages involving heterosexual couples. Surveys from the Census Bureau show that this makes these couples uncomfortable as households will underreport the wife's income and overreport the husbands. Wives in Virginia and throughout the country are increasing their income relative to their husbands more than ever, creating problems in many marriages.

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