Are People Staying Together Because Divorce Can Be Costly in a Recession?
It's no secret that divorce can rack up huge financial bills.
Legal fees for lawyers, accountant fees, a private investigator's fees (if one is needed), child support, alimony and any additional living expenses resulting from the split (rent, food, utilities, etc.
) can pose a major financial burden on an individual.
It's hard getting by with two incomes in a recession, let alone one that is strained with additional financial obligations.
Consequently, a dip has been seen in the divorce rate in the United States according to a report entitled 'State of Our Unions' by the National Marriage Project of the University of Virginia.
According to the study, the number of divorces per 1,000 married women saw a decline from 2007 to 2008.
In 2007, 17.
5 women out of 1,000 were divorced, while in 2008 16.
9 women per 1,000 were divorced.
Many have associated this drop in the divorce rate to the slouching economy and the added dependence on two incomes to get by, as the prospect of shelling out huge payments to lawyers and other professionals associated with divorce can be less appealing than staying in a rocky marriage.
While the divorce rate has seen a decline as the recession has rolled along, the overall long-term divorce rate is not expected to change much.
The chances that a first marriage will end in divorce are still expected to hover around the 40 to 50% range despite the short term lull in divorce.
As the recession begins to fade, many expect the divorce rate to once again increase.
The strain that financial problems can put on a marriage may hurt an already rocky marriage.
Unemployment, creditors, a long, burdensome job hunt and other negative financial factors are terrible sources of stress.
Some predict that these factors may contribute significantly to pushing a marriage over the edge, although others argue that even with this the case, couples are choosing to stay together for financial reasons.
For those who do decide to get divorced, keeping bills to a minimum is often very important.
Opting for mediation or going the uncontested divorce route can be great money savers.
While an uncontested divorce involves an agreement between the divorcing parties and a lawyer is not required, hiring one may still be a good option to ensure that everything is in order and your rights are protected.
The cost of a lawyer in an uncontested divorce is usually much cheaper than when the divorce proceedings reach trial.
Legal fees for lawyers, accountant fees, a private investigator's fees (if one is needed), child support, alimony and any additional living expenses resulting from the split (rent, food, utilities, etc.
) can pose a major financial burden on an individual.
It's hard getting by with two incomes in a recession, let alone one that is strained with additional financial obligations.
Consequently, a dip has been seen in the divorce rate in the United States according to a report entitled 'State of Our Unions' by the National Marriage Project of the University of Virginia.
According to the study, the number of divorces per 1,000 married women saw a decline from 2007 to 2008.
In 2007, 17.
5 women out of 1,000 were divorced, while in 2008 16.
9 women per 1,000 were divorced.
Many have associated this drop in the divorce rate to the slouching economy and the added dependence on two incomes to get by, as the prospect of shelling out huge payments to lawyers and other professionals associated with divorce can be less appealing than staying in a rocky marriage.
While the divorce rate has seen a decline as the recession has rolled along, the overall long-term divorce rate is not expected to change much.
The chances that a first marriage will end in divorce are still expected to hover around the 40 to 50% range despite the short term lull in divorce.
As the recession begins to fade, many expect the divorce rate to once again increase.
The strain that financial problems can put on a marriage may hurt an already rocky marriage.
Unemployment, creditors, a long, burdensome job hunt and other negative financial factors are terrible sources of stress.
Some predict that these factors may contribute significantly to pushing a marriage over the edge, although others argue that even with this the case, couples are choosing to stay together for financial reasons.
For those who do decide to get divorced, keeping bills to a minimum is often very important.
Opting for mediation or going the uncontested divorce route can be great money savers.
While an uncontested divorce involves an agreement between the divorcing parties and a lawyer is not required, hiring one may still be a good option to ensure that everything is in order and your rights are protected.
The cost of a lawyer in an uncontested divorce is usually much cheaper than when the divorce proceedings reach trial.