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Divorce property division for stay-at-home parents

| Apr 29, 2019 | Divorce |

Around 25% of mothers in Tennessee and across the country stay home from the workplace to raise their children as do 7% of fathers. This choice is widely praised socially. Over half of Americans surveyed say they think it is better when a mother can stay at home than go to work or even have a stay-at-home father. Being a stay-at-home mother often involves more than just providing childcare and education. As a result of the parent at home’s time and availability, the parent in the workforce can work long hours, go on business trips and develop his or her career far more extensively than if they had to share parenting duties or rely on traditional paid childcare providers.

Therefore, stay-at-home parents also contribute to the development of the working parent’s career, allowing them to earn promotions, start their own business or develop a higher income. However, many of these stay-at-home parents often gave up their own careers to do so. Around 10% of all mothers with a master’s degree or higher stay home to raise their children, keeping them out of the workplace. The situation can become more complicated when divorce is involved.

Like most states, Tennessee relies on the principle of equitable distribution to divide marital property in the case of a divorce. This means that both spouses are not necessarily entitled to half of the marital assets, but a number of factors are taken into account when deciding how they should be provided.

Homemakers and wage earners are both valued for their contributions, but many stay-at-home parents may be concerned about their financial future after the divorce. A family law attorney may advise a divorcing spouse on achieving a fair settlement on property division, spousal support and other legal matters.