Financial Considerations of Divorce

Divorce can be costly. And not just in legal fees.

A Stanford University study in the late 1980's found that a woman's standard of living drops 73 percent in the first year after a divorce while a man's typically increases by 42 percent. How severely you might be affected financially by a divorce depends on such factors as your age and your previous lifestyle. Stay-at-home moms who have been out of the workforce for some time will find it harder than younger, working women without children. Also, older women who depended on a husband's income have a difficult time financially.

If your marriage is dissolving - amicably or not - there are several financial factors you should consider.

Tools That Can Help

• Understand Assets, Liabilities & Net Worth
• Getting Divorced - A Checklist

Get Assistance
For assistance in setting up your new individual accounts, call us at 1-800-772-1090 or visit any People's United Bank Branch in Connecticut.

People's Financial Advisors is a division of People's Securities, Inc. Investments & Insurance are available through People's Securities, Inc. (member FINRA and SIPC), a subsidiary of People's United Bank.