Living through poor economic times can be tough. Incomes usually stagnate, jobs become scarce and Louisiana couples may have to face a growing number of financial problems in their marriages. Since money is a major cause of marital stress, some might think that the divorce rate will increase as the economy heads south. In reality, the opposite is usually true.
It is true that money is one of the biggest causes of marital strife. In a 2018 Planning & Progress Study from Northwestern Mutual of 2,000 adults, 41% reported that financial anxiety negatively affected their relationships. Those financial worries not only make for unhappy marriages, it also makes it harder for people to overcome their fears associated with post-divorce finances when the economy is not doing so great.
However, having more money does not make financial stress simply disappear from a marriage. When the economy improves and both incomes and job prospects get better, couples may feel better equipped financially to take on divorce. It is understandable that some people might feel as if it is easier to part with a portion of their marital assets when they have more to their name.
While it is true that most people will experience some type of financial impact after divorce, it is usually not debilitating nor long lasting. Divorcing couples in Louisiana can even make conscious efforts during the divorce process to preserve their financial security. This does take a certain amount of effort though, and those unfamiliar with the process may be unsure of where to start. For these individuals, speaking with an experienced family law attorney can usually help demystify the process.