Financial hardships can put a lot of stress on married couples. But, a couple getting to a strong position financially is no guarantee that a marriage will last. In fact, the American Academy of Matrimonial Lawyers indicates that good economic times actually see relatively high divorce levels here in the United States.
In a survey of the organization’s members, a sizable majority of the respondents said that there actually tend to be declines in divorces when the nation’s economy is going through a downturn. Meanwhile, divorces often increase during periods of strong economic conditions, according to the organization.
What is behind these trends? One thing might be the concerns couples have about the financial effects a divorce could have. When economic times are tough, these worries might make people who are facing marital difficulties more hesitant to go the divorce route. On the other hand, when the economy is booming and their income is increasing, such individuals might feel more comfortable facing the possible financial challenges of ending a marriage.
There are a range of complicated issues that can arise when couples who are in a fairly strong financial position are going into a divorce. Complex assets can be present that are difficult to value. How matters related to the valuation and division of such property are handled can have lasting impacts. There can be also be a very wide range of critical financial goals to safeguard.
When tackling such matters, having effective strategies for protecting one’s short-term and long-term interests is crucial. This is among the reasons why the quality of legal support one has when navigating property division and similar divorce issues is of such great importance.