In this series of conversations, Maya speaks to Andrea Carr about her experience of getting divorced which has led Andrea to question many of the decisions she made as a woman, as a mother and as a wife, when it came to her finances. It made her realise the importance of taking care of herself, instead of just taking care of her family.
If you are a married woman, or a single woman who may get married one day, Andrea’s experience and insight is relevant to you. Even if you never get divorced, it is statistically likely that as a woman, you will outlive your male partner, which means that at some stage of your life, you will be alone and need to run your own financial life.
In the first episode of this four-episode series, we speak to Beverley Clark, a leading attorney and specialist in family law, about marriage contracts and finding financial equity in marriage, especially when one parent takes on the responsibility of raising the children.
Beverley outlines what the different marriage regimes are and how they impact both divorce and death, and she emphasises how important it is for a woman to have her own attorney when the marriage contract is being written up.
Beverley explains the importance of understanding commencement values, and what redress a stay-at-home parent may have if they have taken time out of their career to raise children.
We also discuss the case that Beverley brought before the Constitutional Court which, subsequent to the recording of this podcast, resulted in a groundbreaking ruling which will have significant implications for spouses who did not earn an income during their marriage but who added substantial value to the marriage partnership.
Look out for the rest of this series of podcasts, in which we will be speaking to a financial planner, a fiduciary expert, and a relationship therapist.