McCaughey's father died in 1970 at the age of 60. Her mother, an alcoholic, died the next year of liver disease at the age of 42. In 1972, she married Thomas K. McCaughey, a Yale College graduate she had met in college. He was then moving up as an investment banker. The McCaugheys separated in 1992 and divorced in 1994, with McCaughey and her ex-spouse sharing joint custody of their three daughters. In January 1993, she filed an affidavit in her divorce proceeding in which she said she had no annual earnings from employment during most of the 18 years of her marriage to Thomas, and she had never earned more than $20,000 per year except in 1990, when she "sold an idea to Fox television for a windfall once-in-a-lifetime sum of $75,000."