The economic value of a homemaker’s contribution to the family is often underestimated and undervalued. In many cases, a homemaker’s work is worth more than the sum of their monetary contributions. For example, a stay-at-home parent who cares for the couple’s children full-time saves the other spouse the cost of childcare, which can be expensive.
Here’s what to know about how homemakers may be compensated in a divorce and how you can get the legal help you need.
The Financial Impact Of Homemaker Contributions
The financial impact of homemaker contributions can be significant. For example, if one spouse has stayed at home to care for the couple’s children, that spouse may have given up the opportunity to earn an income.
Additionally, homemakers often make significant contributions to the household budget, such as by managing the family finances or overseeing household expenses. As a result, homemaker contributions can have a significant impact on the couple’s overall financial picture and the division of assets in a divorce.
How To Make Sure You’re Getting Fair Compensation
There are several ways to ensure that a court recognizes the value of your work as a homemaker in a divorce settlement. First, you can negotiate with your spouse to reach an agreement on how to fairly compensate you for your work. Usually, the basis for these calculations is what someone else might earn for doing the same type of work.
If you are unable to reach an agreement, you can ask a court to consider your economic contribution to the family when making decisions about alimony and property division. Or, you can hire an attorney who specializes in divorce cases involving stay-at-home parents or other homemakers to help you negotiate for a fair settlement.
What A Florida Family Lawyer Can Do
A family law attorney is a major asset when getting a divorce, regardless of which side you’re on, and can help you understand your rights and options when it comes to compensating for homemaker contributions in a divorce. A lawyer can also help you negotiate a fair settlement with your ex-spouse, and if necessary, represent you in court should you need to proceed to litigation to obtain the result you want.
Reach out to Sparkman Law Firm today to learn more or to book a consultation at our boutique Tampa law firm by calling 813-374-2000.
