As most people know, having children can change a person’s life in many ways. Some Utah parents may choose to leave their jobs indefinitely in order to care for the children while the other parent earns the household income. This type of arrangement may work out well for numerous families, but it may cause some complications when it comes time for asset division during divorce.
Caring for children is a vital and admirable job, but it can also leave many stay-at-home parents in a precarious financial position if a marriage comes to an end. In particular, individuals may need to consider whether the importance of staying at home with the kids is equal to the income generated by the out-of-house working parent. Of course, the views on this topic may differ from person to person and depending on the exact circumstances of the divorcing couple.
Two university professors conducted a study regarding this topic that involved 3,000 participants. The participants were given some basic information regarding a fictitious couple that involved a mother staying at home and a father working out of the house. The results indicated that women were more likely to give the mother a larger portion of the assets regardless of education level, and men were more likely to give a larger portion if the mother had a higher level of education.
Because of these differences in views and opinions, it is not unusual for asset division to become a contentious part of the divorce process. Some individuals may feel that they are entitled to an equal share of marital property, but Utah state laws dictate a fair but not necessarily equal division of assets. No matter if an individual is a stay-at-home parent or an income-earning parent, it is wise to consult with legal professionals on this and other divorce matters.