An interesting article from the Daily News in the UK:
The shaky economic recovery is welcome news to most hard pressed families. But, according to research, it also risks tearing them apart. Divorce lawyers predict record business in January after takings plunged during the recession.
QualitySolicitors.com, a national group of 200 law firms, expects double the usual volume of monthly divorce-related inquiries. It follows a 26 per cent increase in inquiries from July to November as the downturn started to slow. Member law firms report current inquiry levels are now on average 11 per cent above those in November 2008 when the economy was at its lowest ebb.
Marriage counselors said this was no surprise as while stagnant salaries, plummeting home values and rising unemployment created extra stress on marriages, they also made couples more financially dependent on each other. Many who wanted to divorce could not afford the legal fees.
The significant extra cost of supporting a second household if they split up also stopped many couples with children from separating. Falling property prices helped marriages survive as couples did not want - or could not afford - to sell homes in negative equity.
In the U.S., the American Academy of Matrimonial Lawyers also reported a 37 per cent drop in divorce cases.
Some of these couples used the hard times to their advantage and worked out their differences, but others postponed getting divorced for when their finances improved.
QualitySolicitors.com chief executive, Craig Holt, said: 'The volume of divorce cases dropped right across the country this year due to the credit crunch.
'That wasn't a sign that less families were separating, but that many couples have been biding their time conscious that to divide assets worth considerably less than they once were might not be in either of their interests.
'However, as confidence has crept back into the market in recent months we have seen that trend begin to change significantly.
'We now expect unparalleled levels in January as a number of people who have been holding fire now take the hard decision to seek legal advice to pursue a divorce.'
In preparation the group has employed extra case-handlers to cope with demand.
If you have been considering divorce, we can help guide you through the difficult financial and emotional aspects of the process. To talk to us about your case, please visit our website or call the office to schedule your initial consultation. We employ a client based approach, which means that we are selective in the cases we take so that we can be available to our clients. We spend time with you to thoroughly understand the facts of your case, so that we can provide you with a comprehensive and realistic legal evaluation. Our process begins with a half-hour low-cost consultation. Call for your consultation today.
