Our readers may have seen a previous post here detailing reports about how the divorce rate in America is increasing even as the economy improves. It seems that this assertion is gaining even more evidentiary support, with another report out recently that states that in 2012 – the last year available for this statistic – the number of divorces in America increased for the third straight year.
So, what is the connection between an improving economy and an increase in the dissolution of marriages? It was previously observed that improving household finances, due to increased savings or better job stability, may allow someone who feels trapped in an unpleasant relationship to feel confident that they can pursue a divorce and not end up completely crushed by the financial impact of such a life changing event. This can be particularly true in a high asset divorce, which can cost more to navigate through the judicial process due to special needs these types of divorces entail, such as more detailed asset valuation.
Nonetheless, whether or not a couple is facing complex asset division or they don’t have much in marital property at all, something is happening with married couples in America. The same reports indicate that the divorce rate in America just five years ago, in 2009, was at its lowest point in 40 years. When times get tough, do married couples get closer? And, when finances aren’t an issue, do couples feel more freedom to stake out their own path, leaving a marriage behind?
These are certainly interesting questions to ponder from a societal impact stance. Maryland residents may be asking themselves these very same questions right now, and then making a major decision: do I get a divorce or try one more time to save the marriage?
Source: charlotteobserver.com, “As economy improves, divorces rise,” Steve Matthews, March 1, 2014