Think Twice Before the Divorce

While you may want a divorce so badly you can taste it, the present economy isn’t in a state that will allow people to set up two households.

Getting a divorce is not an easy thing to do, ever. You started out married life with high hopes that over time were dashed. When the economy was doing well and you have enough money to go around and then some, it was easy to split and each get your own homes. With the economy the way it is now, this is not possible. In fact, many people wanting a divorce are now opting to stick it out until the recession begins to show some signs of winding down. This means many couples at war with one another are sharing houses and living in misery.

Why not strike out on their own despite the economy? It’s not that easy these days with the high cost of homes and the number of people facing foreclosure and bankruptcy. However having said that, there are other alternatives for couples at odds with one another and they include mediation and a negotiated settlement. For those living at opposite ends of the house, this may be welcome news – sort of like light at the end of the tunnel. Even individuals who do succeed in getting a divorce in a fairly amicable way are finding it’s economically better for both of them to stay in the same house until the market gets better and they can sell it, splitting the proceeds.

Times are definitely changing and the question is whether or not this is good or bad. That would largely depend on one’s point of view. Those who are able to tough it out and make it until the recession lifts may stand to make some money and be able to eventually go their own separate ways. Those who decide they absolutely are unable to stand each other will make the choice to lose the home to foreclosure because they simply could not live together, no matter what.

This “let’s stick it out” attitude is quite evident when you take a look at the current divorce statistics, which happen to be the lowest since 1970. That says something about the state of the economy, but it also says something about the difficult circumstances many beleaguered couples find themselves in today. Fear is prevalent in many instances where the parting couple takes a good hard look at their assets and the ability to liquidate them, and realize they really don’t have any room to move.

At one time it was easy to sell a house for some decent dollars, walk away with money to spare, and get on with setting up a new life. This definitely isn’t the case today. The mood is one of desperation and people trying to stick the other spouse with the “hot potato” house to get out from underneath the crushing debt. The dream home is now a significant liability.

Even if you are opting to stay together until the economy takes a turn for the better, it is a wise move to consult with an attorney to know what your rights are before you make any decisions. It is money well invested for your future when things get better on the housing market. Never assume that because you can’t sell your house and leave the marriage right away that there aren’t other options that may be open to you. A good divorce attorney will be able to advise you on alternative routes that might work for you and your about to be “ex” spouse.

Jeremiah Denslow is a Dayton Divorce Lawyer in Dayton Ohio with Denslow Law Firm. The firm specializes in family law. Jeremiah also practices Dayton criminal defense. To learn more about Dayton divorce lawyer, Dayton dui lawyer, Dayton defense lawyer, Dayton divorce attorney, Dayton dui attorney, Dayton defense attorney, Dayton attorney, Dayton lawyer, Dayton ohio, visit Denslowlaw.com.

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