Sources around the country say that the divorce rate is down nationwide, though it’s usually higher during economic recessions. One theory as to why: the economy is bad, but people are marrying later and cohabiting more frequently than past generations.
Yesterday, The Wall Street Journal published a guide to getting a divorce with a minimum of financial pain. Their tips:
- Find the right legal aid.
- Be cooperative- less legal wrangling means less money paid to your lawyers.
- Rethin living arrangements – Consider both staying in your shared house, at least until property values recover and you don’t take a loss on selling it.
- Don’t cash out your investments quite yet.
- Be flexible with spousal and child support.
- Be flexible in deciding who claims the children as a deduction on tax returns
Check out the article for more details, resources, and advice.
Keeping Finances Afloat During a Divorce [Wall Street Journal]