CHICAGO, IL, November 17, 2008 – An increased risk of going through the emotional and financial pain of a divorce is appararently one less thing people have to worry about as the economy takes a turn for the worse. By an almost two-to-one margin, respondents to a recent survey of the American Academy of Matrimonial Lawyers (AAML) report that they typically see a decline in the number of divorces during national economic downturns rather than an increase.
“For many spouses, the divorce process involves a great deal of long-term planning and waiting for better economic times is often just another element of the overall process,” said Gary Nickelson, president of the AAML. “Many individuals tend to employ a wait-and-see strategy during a troubled marriage and are very well prepared when it comes time to file for divorce. A sudden drop in net worth can effectively postpone this final decision from being made.”
Overall, 37% of AAML members responded that they typically see a decrease in the number of divorce cases during national economic downturns, while only 19% cited an increase during these challenging times.
About AAML
Founded in 1962, the American Academy of Matrimonial Lawyers (AAML) is committed to encouraging the study, improving the practice, elevating the standards, and advancing the cause of matrimonial law, in order to better protect the welfare of American families.
Comprised of the top 1,600 matrimonial attorneys throughout the nation, AAML members are recognized experts in the specialized areas of matrimonial law, including divorce, prenuptial agreements, legal separation, annulment, child custody, property valuation and division, alimony, support, and the rights of unmarried couples.