If you have been following the numbers, you probably know that the economy and housing market is slowly recovering. This is great for couples that have been struggling financially; however, it is even better for those who are ready to split.
NBC News notes that there has been a sharp increase in the number of divorce filings. Specifically, The Fiscal Times documents a divorce increase of 25 to 50 percent in some areas over the past year.
Why is there an increase? Sources have detected a direct correlation between the housing market and divorce. People were experiencing difficulty selling their homes in the tough housing market. Therefore, for a few years, couples were enduring stiff marriages for financial reasons. Now, as the economy recovers, spent couples are finally terminating their unsalvageable marriages.
However, it is important to note that some of the recent divorce numbers are a direct product of the poor economy. The recession-induced financial issues destroyed some marriages. According to a survey initiated by the University of Virginia, 29 percent of married couples reported that the poor economy stressed their relationships.
Moreover, while studies suggest that divorce rates are dropping overall, this is not true for older couples. According to The Fiscal Times, the divorce rate for those 50 and over has been on the rise. In fact, the rate doubled between 1990 and 2009.
If it is time for divorce
If you are considering divorce, it is important that you know what to expect. As the housing market improves, you may have the ability to sell your home and regain financial security. If new a financial status means you are ready for a divorce, it may be time to meet with an experienced divorce attorney. As you struggle through the family law matters ahead, you will need not only financial support, but also legal support.
- Divorce involves several legal matters. The issues involved include some of the following:
- Child custody and visitation (if children are a part of the marriage)
- Property division of the couple’s marital assets
- Child support
- Spousal support (also known as alimony)
These are just a few of the important topics involved in the process. However, it is important to note that each case is unique. If you would like to learn more about your rights and responsibilities associated with the end of your marriage, take the time to speak with an experienced family law attorney. It can be very helpful to have a lawyer by your side.