Cheaper To Stay Together?

UncategorizedNo Comments
One of the surprising statistics of this lagging economy has been the drastic reduction of divorce rates. Usually it is conventional wisdom that financial crisis drives marital strife, not the other way around. While the strife may have increased, the wide spread recession that has made it impossible for many spouses to afford to split the home. Previously, there was sufficient equity in the family home or stable employment that made it easier to support children and mortgages when a family split apart. Now it is entirely different. Many homes are worth less than the mortgage, credit cards are at the limit, and the fear of unemployment cast serious doubt on the ability to pay child and spousal support. Simply put, for many people it is not possible or wise to split during this economic downturn.
The formulas used by the court for dividing assets and figuring child and spousal support are not obvious, though, so it may help to hear from a lawyer what your property division and support would look like. In this time of reduced (or no) incomes, it

One of the surprising statistics of this lagging economy has been the drastic reduction of divorce rates. Usually it is conventional wisdom that financial crisis drives marital strife, not the other way around. While the strife may have increased, the wide spread recession that has made it impossible for many spouses to afford to split the home. Previously, there was sufficient equity in the family home or stable employment that made it easier to support children and mortgages when a family split apart. Now it is entirely different. Many homes are worth less than the mortgage, credit cards are at the limit, and the fear of unemployment cast serious doubt on the ability to pay child and spousal support. Simply put, for many people it is not possible or wise to split during this economic downturn.

The formulas used by the court for dividing assets and figuring child and spousal support are not obvious, though, so it may help to hear from a lawyer what your property division and support would look like. In this time of reduced (or no) incomes, it’s also helpful to consider a modification of your existing spousal or child support.