New York Family Law Blog
The Recession of 2007-2009 presented many people worldwide with problems that most had never seen before in their lifetimes. Although the global economy continues to struggle, most would agree that the recession is easing and many are beginning to put their lives back in order. A Brooklyn Divorce Lawyer has learned that although many couples are getting their finances back on track, there are others who have decided to call it quits as a couple.
Those who have studied certain points in history, such as the Great Depression, and various recessions and depressions that have occurred since, have indicated that most couples have a tendency to stick together during times of economic hardship. However, once better times begin to emerge, there is usually an increase in the number of divorces that are filed. While there is some discussion as to the exact cause for this, many do agree that when the prospects appear better to exit a bad marriage, that many people will take that path. This often occurs more whenever financial prospects appear better than when it does not.
While the economic recession may be concluding for many, there are perhaps just as many who continue to have financial difficulties. The number of personal bankruptcies being filed remain at similar levels, and that the financial stress continues to cause many couples to have problems. Financial stress is one of the biggest reasons that couples file for divorce. Many couples continue to struggle with mortgage payments that both parties submitted to without issues during better economic times, but when the economy soured so did their credit scores and bank accounts.Not to mentioin, if children are involved, the high legal costs asscoiated with a child custody battle, equitable distribution or child support payments.
Post-recession divorces affect everyone, including the affluent. There may be at least one big difference between divorces involving the affluent and divorces involving others. Most of the affluent couples who are seeking divorce are primarily concerned with their own financial portfolio than how the economy has affected it. In other words, they may be more inclined to divorce if their financial status will improve afterwards.
Regardless of what the reasons are that bring couples to a Brooklyn Divorce Lawyer, seeking financial help before it is too late is imperative to protect everyone concerned.
If you are looking for a lawyer who can help you find the right direction to take, a New York Family Attorney will be your guide. Whether you need help filing for divorce, drafting a will or trust, contact our firm to discuss your next steps.