Your Marriage: A Victim of the Economy?

Each year, thousands of clients seek divorce attorneys through LegalMatch.com. News of recent layoffs and stock portfolio value drops carries a human side, with increased tensions over money management between spouses as the result. Rising stress over unemployment, change in routine, foreclosures, spending too much or saving too little can place a significant strain on a relationship.

But even with increased martial frictions, how has this economic downturn actually affected marriages in the U.S.? Given all the speculation, it seemed fitting to see what the actual statistics would show.  From January 1 to March 31, LegalMatch client intake reports show a 7 percent increase in the rate of separation in 2009 over the same time period for 2008. This isn’t exactly an earth shattering jump, but still it is significant.

Of course, those facing harder economic times often reassess the value of their assets- and in a marriage that often means taking a good look at your combined finances. After all, divorce can be expensive, and separating from your spouse often means forgoing a second income. Some states even consider debt acquired during the marriage as community property, potentially meaning a spouse could be forced to pay the mortgage for a house in which they no longer reside. Spousal support and/or child support may be too much to pay for an individual should the marriage dissolve. The downside is that it may mean staying in a marriage that no longer works for many couples.cheap inflatable bounce house

Right now it seems the majority of couples are choosing to weather the economic storm together, for better or worse. It will be interesting to see if this still holds true as the recession stretches on over the coming months.