September 9, 2010

Divorce Rates Rising Despite the Economy

Posted in Divorce tagged at 7:26 pm by demetriagraves

There’s been a lot of speculation about divorce rates recently. It seems that rates of divorce have declined in the last few years, and many family law practitioners have attributed the reduction in dissolutions to the recent economic challenges posed by the Global Financial Crisis. Even if a couple believes that a marriage will no longer work, they may accept the fact that maintaining two households in a time of economic uncertainty has not been a risk worth taking. Diminished real estate equity and uncertainty about jobs opportunities have left some spouses resigned to postponing legal solutions until they feel more secure.

But recent reports suggest that divorce rates are increasing, and some commentators speculate that the reason is that Americans have become accustomed to the new economic reality. It seems like we’re seeing an increase in divorce clients. With the recession, there was initial shock that paralyzed people. They were frozen, not wanting to make any more significant changes in their lives. They weren’t any happier than before, but too afraid to do anything about it. Now people are stabilizing, acclimating themselves to the new economic realities. People realize that things may not change soon, but at least it’s possible to have a happy life on an emotional level.

In the current economic climate, people who are considering divorce need to pursue knowledge about their legal options as well as their financial interests. Estranged couples who have felt trapped by a mortgage that exceeds the market value of their home should seek some professional legal advice. It may be possible for one spouse to remain in the family home. For others, there’s a full range of debt relief options that may provide solutions, including bankruptcy and consolidation. An attorney with experience in all of these areas can explain strategies to help you attain an independent future that recently may have seemed foreclosed.

In my experience as a family law attorney, I have helped may separating couples work out a plan that helps them to move forward with their lives, no matter what the current economic circumstances are. I offer a free confidential initial consultation where you can get all your questions answered. So don’t feel trapped, by your current situation. There are probably many options that you may not have considered or even known about.

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