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blog home Divorce Divorce Rates Increase as the U.S. Economy Recovers

Divorce Rates Increase as the U.S. Economy Recovers

By Nottage and Ward on June 8, 2011

ABC News reports that divorce attorneys across the United States have seen an increase in the number of couples who are seeking to finalize their divorce after months of indecision during the economic recession.

According to the vice president of the American Academy of Matrimonial Lawyers (AAML), John Slowiaczek, the increase is due primarily to finances. He notes that many law firms are seeing an increase in the number of clients they have as the country recovers from the recession. Specifically, his law office in Nebraska saw an increase of 25 percent from January through April of this year when compared to the same period in 2010. Linda Lea Viken, president of the AAML, says that the recession made it difficult for couples to divorce on both emotional and financial levels. She notes that many couples may have assets that have decreased in value, or may be facing foreclosure on their home, both of which make it very risky for divorce. Some couples may have also had fears about the burden of being entirely responsible for their own bills after the divorce.

Overall, in 2009, 57 percent of the lawyers in the 1,600 member AAML reported a decrease in divorce filings. Now, as the economy improves, there has been a turnaround. Many attorneys are now reporting an increase in business and divorce filings. However, Viken says couples must take certain precautions to avoid substantial losses when their assets are divided in their divorce. She notes that couples need to be very aware of market conditions so they don’t make costly mistakes.

If you have been considering divorce in Illinois but have yet to take action, contact Nottage and Ward. Our highly trained and experienced divorce attorneys in Chicago can help you understand the impact divorce will have on your finances as well as your assets and property during this time of economic recovery. Call 312-332-2915 to schedule a consultation with our lawyers today.

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