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Women better off in high asset divorces

While divorcees typically consider divorce both a personal and financial blow, according to a new national survey, wealthy women who divorce tend to be happier and better off financially. In fact, nearly 80 percent of divorced women involved in high asset divorces with a net worth in excess of $1 million say their financial standing has improved since their divorce.

The results of the study show a striking difference between the overall financial wellbeing of wealthy women and other divorced women. According to U.S. Census data, divorced women are 50 percent more likely to live in poverty. This is especially true of recently divorced women who may struggle with their new financial reality and responsibilities.

Wealthy women, however, tend to be more knowledgeable when it comes to money and investment matters. The survey results showed that nearly 50 percent of divorced millionaire women worked and more than 70 percent felt they were savvy when it comes to investment matters. In fact many of the women interviewed for the study believed they were better with finances than their ex-husbands.

Large divorce settlement amounts coupled with the fact that so many wealthy divorced women continue to work, helps ensure they will enjoy a secure financial future. Not only are women involved in high asset divorces continuing to reap financial benefits, they also report to being much happier after their divorce. Nearly 80 percent of those women surveyed relayed they were much better off emotionally and mentally post-divorce.

Alabama women involved in high-asset divorces would be wise to consult an attorney who has experience dealing with property and complex asset division. A knowledgeable attorney can help ensure assets are protected and maximum wealth retained.

Source: Financial Advisor, “Divorced Affluent Women Say They’re Better Off Financially,” July 2, 2012