After years of marriage, there are a number of reasons why a Colorado couple might choose to end their relationship. Whether divorce talks begin as the result of long-standing conflicts or two individuals simply growing apart, couples have the same financial and familial concerns to sort out. Knowing this, some may wonder: When is the right time to divorce?
It’s been noted that many couples made the decision to hold off on divorce during the economic recession. Depressed home values and general financial instability may have led many couples to continue to stay in their marriage until the economy improved. Interestingly enough, the ongoing recovery has been accompanied by an increase in divorce filings.
The leader of the American Academy of Matrimonial Lawyers indicated that people want to make sure they will be “able to take care of themselves after divorce.” Through the property division process, couples split combined household incomes and assets in order to create two entities. For those who have a low-income job — or no source of independent income — divorcing during an economic recession can create uncertainty.
Understanding many of the hesitations that accompany divorce, the goal of property division should be to make sure that both spouses are in a financial position to live comfortably after divorce. This is why couples should work together to create a settlement that is fair to all parties.
Some couples simply cannot wait until their financial situation improves to go through with divorce. For their health and happiness, a divorce may need to move ahead immediately. The reality is that every couple has unique needs when they are looking to split up, so these factors should be take into account when a settlement is reached.
Source: NBC News Today, “‘Til death (or economic recovery) do us part,” Martha C. White, ” May 14, 2013