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Family & Divorce Law

The Connection Between the Economy and Divorce

By Tolison & Williams / February 20, 2014

Couples desiring a divorce but who are struggling financially have had to make some tough choices, including whether or not to pursue their divorce or to stick it out until they can afford it. When speaking of affording a divorce, it is not simply the process they are concerned about paying for, but being able to pay for what comes after. Many couples have chosen to stay in their marriage due to the inability to pay the expenses that would come from dividing one household into two. This decision has been a struggle for couples in Colorado and across the country, however, reports show that with the economy recovering, divorce rates are also on the rise.

According to national health statistics, divorce rates had apparently been at a 40 year low back in 2009. After the end of the recession, divorce rates have increased every year. This increase in divorces is believed to be tied to employment rates and overall financial health of the couples filing.

One woman has reported that she and her husband, who owned a business together and despite their desire for divorce, kept the marriage together for the sake of their business and finances. As the economy has improved and business is back up, they can finally afford the divorce they have wanted. With employment opportunities becoming more widely available, it is also a little easier for couples in this type of situation, or even previous stay at home parents, to find a job in order to create some financial stability.

Financial stability is certainly a valid concern for Colorado couples considering divorce. The fear of being able to truly afford to split a household stresses most couples. However, if divorce is a desire that they would like to make a reality, finding a way to equitably distribute assets, provide support for children or even spousal support are all negotiable. Despite a couples financial situation, it is possible to proceed with a divorce and provide some financial stability for both parties as they move forward in their separate lives.

Tags: Divorce

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