3 December 2010 0 Comments

Divorce Rates Rise as Economy Recovers

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Many commentators have attributed a drop in the divorce rate in recent years to the economic downturn. One particular factor has been the severe reduction in real estate values in California and other states. Couples who found they had reached an irreconcilable end have remained together due to the challenges of establishing second household in these times of uncertainty.

Recent indicators, however, suggest that divorce rates have begun to rise again across the country, a trend that may be due in part to an economic turnaround. The president of the American Academy of Matrimonial Lawyers commented this summer that its membership has seen an increase in clients seeking a divorce, and speculated that more people were ready to pursue significant changes. One major national provider of online divorce information reports that its traffic has increased significantly in 2010.

Regardless of the influence of an improving economy on this trend, every spouse who contemplates divorce must consider his or her future economic interests. Basic decisions like child support, property division and, often, spousal support are relevant to even the most basic uncontested dissolution. Particularly if they must divide more complex assets, divorcing spouses will need to be aware of the tax issues of divorce and other financial factors. It is therefore critical to consult an experienced divorce lawyer who can highlight all the potential pitfalls of each decision regarding your divorce.

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