The pervasive effects of the economy on divorce are yet to be revealed. The deteriorating economy has become the lens through which we view everything in these difficult days and it has changed our perspective. There have been many articles in the news recently about the economy’s effect on divorce. Money troubles can place tremendous stress on a relationship, making some people feel it is impossible for them to stay together. But the troubles that many couples are experiencing in today’s financial climate are also making it extremely difficult for them to break apart. On a very basic level, breaking up is more expensive than staying together because where there was once one household, now there must be two. If there is a shared child-custody arrangement, the expenses for each household are even higher, as each residence must provide enough space and supplies for the children. This may be more difficult for couples to manage in these times, especially if one or both of them is unemployed. Therefore, the media has focused on couples who are putting off divorce because they feel they simply can’t afford to do so. However, deciding not to divorce is not a remedy. The couple needs to find a way to coexist in the same household, without making each other or their children miserable. Value of the Assets The couple who decides to go forward with divorce must determine what the economy has done to the value of the marital assets. Historically, the most valuable… [Read full story]
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