Ordway Law Group, LLC
Ordway Law Group, LLC
Divorce & Family Law

Economy may impact Georgia couples high net worth divorce

On Behalf of | Feb 6, 2014 | Uncategorized |

Georgia residents facing a divorce may be concerned with the financial side of the split. A recent article may be of interest to couples going through a high net worth divorce. There could be a direct correlation between the number of divorces and the stability of the economy.

The article gave statistics back to the 1930’s and compared the Great Depression divorces to divorces during the current recession. It was said the number of divorces dropped during the Great Depression because people could not afford to split. It appears the same thing happened during the recession, but now the number of divorces are increasing as the economy improves. This could be particularly true in situations where an individual is facing a high net worth divorce.

Although the article also stated that couples with financial stability, at one time, were less likely to divorce, couples who have a lot of assets and investments may have waited until their investments recovered before filing for divorce. When large sums of money and other resources are at stake, it can be hard to divide assets, especially those involving stocks. Now that couples have recovered most of their possible losses, they may find it easier to divide assets during the divorce process.

A Georgia resident who fits into this category and faces a high net worth divorce may wish to review the applicable laws and determine the best way to move forward in order to protect his or her assets. While divorce can be an emotionally difficult time, individuals are still often concerned with their financial status after the divorce. By making sure all steps are thoroughly considered, a person can receive an outcome that will allow him or her to be successful after the demise of his or her marriage.

Source: Los Angeles Times, Divorces rise as economy recovers, study finds, Emily Alpert Reyes, Jan. 27, 2014

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