Divorce in a Recession? Some Couples Can't Afford Not To
By David Charlip
Your marriage is over. You know that divorce is the only answer. Nevertheless with today's dismal economic forecasts and depressed asset values; will filing for divorce now be a wise decision? For some, the answer is yes, unfortunately, because there are pressing issues that cannot be ignored. For others, a "wait and see" attitude will be a better course.
The determining factors will involve the interplay of the following factors: liquidity of assets, over-all asset value and the decline in value of certain assets likely to be transferred between spouses outright (your home, as an example) versus other assets that would likely have to be liquidated and divided (i.e., like a stock portfolio) and the length of the marriage. In general, the paying spouse, usually the Husband, benefits by splitting assets that are devalued particularly where he will end up with assets that require no sale and have the potential to increase in value.
An ever-present concern however is the question of whether the parties can even afford to be divorced. Where the down economy has already depleted the parties' finances and diminished asset values, many couples will conclude that they can't afford to divorce. That is why, as a couple, you have to take a look at what you have, and see if the burden of keeping certain assets (real estate, expensive cars, antiques) will be too much when you are on your own. At Charlip Law Group, LC we have helped couples get through the division of property with as little discomfort as possible.
Spouses that will end up having to pay some sort of alimony must also be sensitive to the passage of time. One would not want to allow a rehabilitative alimony situation to ripen into a permanent alimony obligation.
The calculus of "divorce timing" becomes more difficult in a declining economy and is very fact-specific. Everyone has a different situation; but it is a difficult time when you need professional advice. Finding an attorney early can save you money and time. At Charlip Law Group, LC we are dedicated to finding cost effective ways for you to deal with this sensitive situation. For over 25 years we have practiced family law in South Florida. For a free consultation call our toll-free hotline at 1-800-773-1955. You can also send us a confidential email at
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and one of our attorneys will answer your questions promptly.
