Survey: "Divorce Down, Post-nuptials Up"

Having marital problems? You arenÂ’t not alone. Avvo, the free website that helps consumers with their legal matters, asked its top-rated lawyers to assess the impact of the current recession on marriage and divorce.

Survey Says: "Divorce Down, Post-nuptials Up"

According to Avvo's survey, while financial strains may cause stress in a marriage, divorce rates are not necessarily increasing. Due to cratered asset values, many couples are holding on until they can split their assets at a higher value. This is particularly true in areas where housing prices have declined the most.

In El Paso County, Texas, for example, divorce filings have dropped by 5% from 2006, even though the population has been increasing. In South Florida, where Miami was the center of a condo pricing bubble, Miami-Dade County reported an 18 percent drop in divorce filings from January to May 2008, compared to the same period last year.

Fraser Himes, a divorce attorney based in Tampa, Florida observed, "Often, the home is a divorcing coupleÂ’s largest asset, and they canÂ’t afford to keep it upon divorce. Now in this economy they either canÂ’t sell it because of the market, or if they do, they may take a huge loss. It may also be the only means to obtain the liquidity to fund a divorce, so the divorce may have to wait.

"Normally, a house is a couple's biggest asset. At these depressed prices, a couple may not be able to fund a divorce by selling the house", Fraser Himes, a divorce attorney based in Tampa, Florida observed.

What to do while you are waiting for your asset values to return? Introduce the post-nup. Across the U.S., divorce attorneys are seeing an increased interest in postnuptial agreements. A postnuptial agreement is a contract signed while a couple is still married to manage financial matters in the event of a divorce. "No one likes a post-nup, but it may alleviate some strains during these tough times," explains Kelly Chang Rickert, a divorce lawyer based in Los Angeles, California. "In some cases, a postnuptial agreement, can succeed in even saving a marriage" noted Seattle divorce lawyer Sally Lanham, a divorce lawyer based in Seattle, WA.

Holidays Adding to Strain

Many attorneys in Avvo's survey noted that the holidays were once again increasing divorce activity. In a year when people are already worried about finances, the holidays simply make things worse. As New Jersey lawyer Bob Corcoran noted, "add family, money and a little alcohol - it's the perfect recipe for divorce."