Credit Crunch Woes and the Rise in Divorce Rate?

What effect is the current economic climate having on married couples? Has the economic downturn made people nervous and more inclined to change their lives? Many publications have reported an increase in marital break-ups as the credit crunch takes its toll.

Other publications have remarked that the global financial crisis is preventing warring couples from divorcing because they simply cannot afford to separate. 

Even prior to the credit crunch, however, money (or the lack of it) has been one of the main causes of marital strife. 

It is arguable that there is a feeling among the stronger economic parties that this is a good time to divorce, since property and share values are lower. Equally the wives of the wealthy may be looking to separate now to get all they can before the assets depreciate further in value.

If you are facing divorce or currently in the midst of proceedings, trying to negotiate a financial settlement is undoubtedly compounded by the volatility of current market conditions. Even in ‘big money’ cases, many couples are delaying settlement until the eleventh hour such is the volatility of the market.

Careful preparation and thorough frequent review of valuations is key to achieving a fair settlement.

Additionally, statistics show an increasing number of couples eager to settle finanical agreements ahead of tying the knot and seeking advice with regards to prenuptial agreements. Indeed, pre-nups could offer greater certainty to couples in distinctly uncertain times.

If you would like further advice with regards to separation during the credit crunch or require assistance in relation to drafting a prenuptial agreement, please do not hesitate to contact family partner Maeve O’Higgins or Helen Wilby.

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