Many people are surprised that issues like the U.S. economy and politics can affect divorce rates. Couples become concerned about their financial situation when there is uncertainty of this nature and, consequently, tend to delay divorce. For example, the elections, economy and tax cut law had an impact on divorce because some individuals were worried about the impact to their net worth or tax bill. Letting these events affect your decision-making is an unfortunate way to proceed leading spouses to continue an unhappy situation for no good reason.
The cost of divorce can be an issue for many couples. Litigation can be expensive. However, that will be true regardless of when you divorce. There are many actions you can take to control the costs. A major reason why divorce often takes so long and costs so much is because couples make decisions based on negative emotions (anger, grief, fear, etc.) as opposed to the issues that ultimately need to be resolved. As a result, they fight over every issue regardless of its real importance incurring legal fees along the way.
Divorce is stressful. Often times, it is hard to deal with the psychological impact and be rational at the same time. Yet, the more practical you can be, the more positive a divorce experience you can achieve. You can have a faster, less expensive, more satisfactory divorce if you are willing to make cost-benefit assessments throughout the process. One should ask themselves, for example, how much value is there in “winning” on a particular issue.
Consider your priorities – the issues that are most important to you. If something is not a priority and doesn’t have a high value, you should be open to compromise. However, risk is also relevant. If something is important to you but you are not likely to get it or the cost to fight for it is prohibitive, you should also consider negotiating.
That doesn’t mean you have to settle every issue or accept any offer. Part of that practical mindset is to evaluate your choices in consultation with your attorney to make a well-informed decision that works for you.
Uncertainty in the economy should not be the reason you stay married. You deserve to be happy and move forward in your life regardless of what the economy or political world is doing. Action is the antidote to the paralysis fear brings. If your financial situation is a significant concern, at least talk with an attorney about your options to determine if the concerns are, in fact, real. All too often, perceived reality and actual reality can be very different.
If you are considering divorce, please contact us to discuss how we can help you take the next step in your life.