Like the rest of the country, Denver residents are seeing some of the benefits of an improving national economy. While this upturn is certainly good news, it may also have ramifications for couples who have decided to dissolve their marriages, as it can impact court decisions regarding divorce settlements such as asset division, alimony and child support payments.
In 2010 and 2011, the national divorce rate for women started to rise, and a Population Research and Policy Reviews study indicates that this may be linked to the country's recovering economy. For some couples, this may have been because they simply could not afford to move out of their shared homes until their economic situations improved.
Increases in the value of marital assets may be another factor involved in these rates; according to one California attorney, when the real estate market was performing well he received an increase in inquiries regarding the allocation of home equity in the event of a divorce. In addition to higher real estate values, the economic upswing brings with it more stable pensions and improved stock prices, all of which can be taken into consideration during divorce proceedings.
The process of determining an equitable division of marital assets can be lengthy and complex. For some couples, a strain in finances or an uncertain economic future may have led them to be cautious about filing for divorce. Those who are now enjoying improved financial situations that allow them to seriously consider a divorce may wish to consult with a lawyer. This can help them better understand the intricacies of marital property division in divorce proceedings.
Source: TurnTo23.com, "Study shows divorce cases are up as economy recovers," Carlos Correa, Feb. 5, 2014