Family Law in Concord, NH: The Effects of the Economy on Family ties

Nobody can deny that the country’s economy can affect marital relationships in a lot of ways, especially when considering the stress and emotional issues caused by money problems. Does that mean that a good economy is also good for marriage life? Not exactly, according to the National Poverty Center (NPC), in an article written by Erica Rawes from the Wall St. Cheat Sheet:

"According to the NPC report, "Bad economies may lead to greater marital stability through at least two disparate pathways. In bad economies, those who personally experience economic or housing hardship may be less likely to separate than they would be in a stronger economy because the costs of setting up separate households are out of reach. Alternatively or in addition, the stabilizing effect of a bad economy may be driven by those who do not directly experience economic or housing hardship, but nevertheless experience feelings of insecurity given the state of the economy…"

Another trend of thought goes that divorce rates tend to rise in bad economic times because of the stress these bring to marriages. In fact, the country’s bad economy was the reason observed for the 11.7 percent increase in divorce cases in New Hampshire from 2007 to 2011-- roughly the same time as the economic recession.

Now that the economy in New Hampshire and the rest of the country is getting back up on its feet, it remains to be seen whether this will lead to higher or lower divorce rates. There is no denying, however, that some of the biggest issues in divorce involve finances. Experts in family law in Concord, NH or Manchester, NH, like someone from Upton & Hatfield, LLP, are thus greatly needed to guide individuals who may be going through divorce in the Granite State.

Throughout the proceedings, certain matters like property division, child custody, and child support are discussed and settled by both parties. As in many divorce cases anywhere else, the financial component of these issues often prove to be contentious, whether the economy is good or bad. In New Hampshire, if couples cannot agree on a property division settlement, the court may do this for them, following the state’s “equitable distribution” statutes.

Child custody and support are also a likely source of friction among divorcing parties, making the counsel of Concorde, NH, or Manchester, NH family law experts invaluable. These professionals will fight for their clients’ rights through difficult issues, helping their clients deal with the stress of the entire proceedings

Download the Legal Guide to Divorce in New Hampshire

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