New Jersey divorce numbers may increase as economy increases | Lane & Lane, LLC
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New Jersey divorce numbers may increase as economy increases

Statistics are now showing that our nation's economy may be back on the rise. However, as our economy becomes stronger, the cost of some things may be lowering, such as divorce. During the period when our country was in a recession many people did not have the financial stability to separate, but now that the economy in New Jersey is on the rise, many of these people can finally end their marriage.

One divorce attorney stated that the reasoning behind the increase of divorces was not that the couples were suddenly unhappy with more money; rather, during the recession, many people lost their jobs as well as other economic troubles which hindered them from dividing assets. Now that the housing market is becoming more stable, couples are less frightened about taking major losses. Couples are able to make a profit off of their house at this point while a couple of years ago they would have taken a major hit instead.

The house is often the largest asset that is divided in a divorce. When the housing marketed dropped, some couples decided to stay together instead of taking a major loss through a costly divorce. As such, when the economy takes a hit, it can also create stressful situations in common households. Unfortunately, this same economic downturn can make it harder for two people to separate, which may only add to the stress.

Fortunately, the economy has started to recover. As a result, if two people find themselves in a stressful marriage, it may now be financially viable to separate. Though this may not make the emotional aspect of divorce any easier, many residents in New Jersey can now start new lives. The ordeal itself still may not be technically or legally straightforward, but hopefully the rise in the economy will help to ensure that life after a divorce will be much less taxing to deal with in the long run.

Source: Los Angeles Times, Divorces increase as improving economy makes split-ups affordable, Stuart Pfeifer, Sept. 18, 2013

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