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Credit Crunch 2008: This is the Time to Divorce, According to the Statistics

By Janet Langjahr

Couples with at least $10 million in assets are flocking to divorce courts this year.

The reason? They are feeling the pinch of the credit crunch and generally weak economy.

In New York State, the situation has fueled the biggest spike in divorce filings in nearly thirty years. The last such spike resulted from the introduction of additional grounds into New York’s fault-based divorce scheme.

Folks in NYC’s sometimes high-flying financial sector have gone from multimillion dollar bonuses to … no bonuses at all this year. Life changing.

And marriage changing - challenging.

No longer flush with cash for the distraction of grandiose entertainment, wealthy couples are reduced to … fighting.

Marriages of the wealthy reportedly are not so much inspired by romance as those of other economic statuses. So, when the applicable inspiration diminishes, it’s off to divorce court - in droves.

So anyone seeking a divorce now should find themselves in really good company …

Read more in this [UK] Times article: Credit crunch raises divorce rate for America’s superwealthy.

Full post as published by Florida Divorce - Child Custody - Domestic Abuse Law on July 21, 2008 (boomark / email).