December 05, 2013 /24-7PressRelease/
-- The factors that contribute to divorce can be complex, and predicting whether a marriage will last is always difficult. Recently, though, one potentially influential factor has become apparent, as divorce
rates appear to be increasing as the economy recovers. This trend highlights a few important considerations that play into divorces in Orange County and elsewhere.
Separation can be expensive
A Los Angeles Times article reports that it is common for divorce rates to decrease when money is tight. One important factor during the recession may have been the drop in housing values. With houses losing their worth, married couples had less value between them, which would have made separately maintaining desirable standards of living more difficult.
According to the same article, housing prices improved significantly in parts of California during 2013. In the Los Angeles area, the average increase was slightly under 25 percent. Now, couples that may have waited because they couldn't afford to divorce are in a position where separation is financially feasible.
According to an article posted on the website of Today, this trend is not just limited to one part of the country. Some divorce attorneys have reported significant increases in business over the last year -- some as much as 50 percent. One legal advice website saw queries related to divorce jump by 80 percent.
Of course, the financial strain of the recession likely also contributed to some divorces. However, the increase in divorce could show that many couples have a good grasp of the financial issues inherent in divorcing. Divorcing can be expensive, and more problematically, dividing assets in a way that will support both people can be challenging even when assets are at full value.
Financial issues in divorce
There are a number of things that can make a divorce difficult, but financial considerations complicate almost every divorce. These considerations include:
- Spousal support or alimony, which can be permanent or temporary.
- Divisions of assets and debts
- Child support.
- Business valuation and ownership arrangements.
Since California is a common property state, the assets and debts that a couple obtained during the marriage are divided equally. This can lead to complications, as some things cannot simply be split in half. Additionally, property acquired before the marriage is not divided equally, which can make the process of division more confusing.
It is easy to see why it is not favorable to divorce during strained financial times, especially if couples feel that they cannot afford to bring in professional help. In high-asset divorces and high-conflict ones in particular, the assistance of an attorney is often critical. With the economy recovering, couples can again be confident in being able to hire an expert and have enough assets to split between them.
If you are preparing for a divorce, it is crucial that you speak with an attorney early on. An attorney can help protect your rights and interests over the course of the separation.
Article provided by Law Offices of David P. Schwarz
Visit us at www.davidschwarzlaw.com