Divorces often push married couples to their emotional limits, and logical reasoning takes a backseat. The stakes are high as assets, custody rights, finances, and overall well-being require attention and resolution.
Legal rights protect each party’s interest to ensure to secure what rightfully belongs to them, like an investment made by them or a share in a joint asset.
Moreover, society’s patriarchal structure favors men, and women need to be aware of their financial rights following a divorce.
Property Distribution
Women could claim themselves as sole beneficiaries of an investment if made in their name, under the Benami Property Act.
However, an amendment in the law states that if the husband can prove the purchase was made using their rightful income, the asset is distributed accordingly.
Women have the sole right to claim any assets presented to them as gifts during or after marriage. The husband could not make claims to it even if they shared it.
Section 14 of the Hindu Succession Act (1956) implements the law for Streedhan, and it applies exclusively to Hindu women.
Alimony
The law ensures women feel secure and protected even after marriage.
Depending on their employment status and family’s financial situation, the court decides the maintenance the husband must provide his wife after the divorce.
However, the assessment follows all the assets belonging to women, gifted or acquired.
Alimony differs from child maintenance, as custodian rights are the duty of both parents. Women who are not self-sufficient to support themselves are entitled to maintenance from their husbands.
After divorce, no woman must face any form of physical or mental torture, and they have the right to live the same standard of life as their husband.
It applies to women from all religious backgrounds by Section 125 of the Criminal Procedure Code.
Navigating through Divorce
Divorce introduces several changes to both parties’ daily lives, and it requires time to adjust to the new financial and emotional situation.
Experts advise keeping track of regular expenses during the initial months after divorce and formulate a proper budget. While assets and alimony are exclusively women’s rights, some financial goals like the child’s education are the parent’s responsibility.
Call to Action You can contact lawyers and financial experts by filling the form on our website and devising a strategic plan to manage your expenses and alimony. Having your financial goals insight could be beneficial for your maintenance and sustain your child’s well-being.