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Economic Recovery Leads to More Divorces in New York

Financial experts agree that the nation’s economy is recovering from the recent recession. While this is good news for most Americans, one surprising effect of the economy’s rebound has been an increase in the divorce rate. In New York, the number of divorces filed has increased by 17% since 2009. Why is it that as New York’s couples regain financial security, marital stability suffers? 

Westchester divorce attorneys know that financial difficulties can increase the likelihood of a couple divorcing. During the recession, many couples were affected by job loss, foreclosure, or a devaluation of investments or retirement funds.  These types of money problems are hard on any marriage, and can result in an irreparable breakdown of the relationship. 

While economic problems may cause the deterioration of a marriage, many researchers hypothesize that the same financial difficulties which push couples towards divorce also prevent these same couples from actually filing divorce paperwork. Divorce is expensive, and many couples seem to have waited until they were financially stable before seeking a divorce.  As the economy recovers, more couples have the means to file for a divorce which may have been postponed for several years.  

Making Divorce Affordable

Divorce can be a costly undertaking.  Couples should expect their housing costs (including rent and utilities) to double as each partner lives separately. If children are involved, one or both partners may be required to pay child support or provide for previously shared expenses, like health insurance or day care.  These costs are in addition to the filing fees and other court fees involved in the divorce process. 

To save money, some couples may consider attempting to file for divorce without the assistance of an attorney.  While this is an option, hiring a Westchester divorce attorney will save divorcing couples both time and money in the long term. 

In a divorce, couples will need to work together to divide their property, income, and debts. They will also need to determine parenting time and child support if the couple has children.  Communication with a former spouse can be difficult after a breakup, and a major benefit to hiring a Westchester divorce attorney is having a representative work with your former partner on your behalf. By interacting through neutral representatives, couples can avoid having to use the courts to fight over the details of their divorce, which will save each party from unnecessary court appearances, filing fees and costs, and time away from work.  

Additionally, a Westchester divorce attorney understands what property each spouse is legally entitled to receive, and what rights each partner has in regards to property, debt, or children.  Without an attorney, couples may not receive all of the assets or support to which he or she is entitled. For example, many spouses should receive payments from pension plans or retirement funds, which may be overlooked without the assistance of an experienced attorney.  

Using this knowledge of New York family law, a Westchester attorney can work to negotiate a settlement which is fair and balanced. If a divorcing couple cannot agree on a particular issue, an attorney can also facilitate a mediation between the parties. By using negotiation and mediation, an attorney can quickly and efficiently create a settlement that balances each spouse’s rights and obligations. 

Though attorney’s fees may seem like an unnecessary expense in an already costly process, using an experienced Westchester divorce law firm like Lynch Schwab, PLLC can save each spouse time, money and aggravation.  Our attorneys will work with you and your former partner to create a fair settlement which protects your interests. If you are considering filing for divorce in Westchester, contact Lynch Schwab at (914) 304-4353 to set up a free initial consultation today. 

Posted on March 10, 2014 in Divorce Attorneys