Many Michigan couples, like their counterparts in other states, are able to breathe a little easier as the country’s economy continues to improve and come out of the recent recession. For some, a family vacation is once again able to be planned or that new car can be purchased. Such things can help to improve the feeling that one has about life and stresses can begin to reduce in some areas. However, a good economy cannot protect people from every challenge that life can have. This includes the challenges associated with creating divorce settlements.
A study released from the University of Maryland actually indicates that an improved economy bodes poorly for the divorce rate. The sociologist who conducted the research concluded from the data received that many people put off getting a divorce during the recent recession not because they found a strengthened bond with their spouses, as some experts had suggested, but rather because they simply could not afford it.
Costs involved with asset valuation, determination of separate versus marital property and complex asset division are just some of the ways that a divorce may have been out of the financial reach of some people for a few years. According to the report, an estimated 150,000 divorces did not take place between 2008 and 2011 that may have if the economy had been better.
Whether your divorce is related to a new situation or was postponed until the economy looked better, it may be beneficial for you to discuss your case with a lawyer who has the experience to help you.
Source: Huffington Post, “New Study Says Divorce Rates Will Increase As Economy Recovers,” Taryn Hillin, January 28, 2014