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Money matters: a look at divorce and financial disputes

It's long been a common custom for wedding vows to include the commitment to stay together "for richer or poorer." More than any other vow, it now appears, the promise to remain together and beholden to one another through difficult financial times has become increasingly trying. Employment instability and mounting loan and credit card debts are bringing new strain to marriages like never before.

Research recently conducted by the University of Ohio has outlined the impact that a husband or wife's job uncertainty and unemployment can have on a modern marriage and the possibility of divorce. In a trend of increasing potency across the nation, including New York, a spouse's employment status appears to now be the strongest indicator of a marriage's chance of survival.

According to the study's findings, a woman's employment status has no real effect on the likelihood of her husband either remaining committed or leaving the marriage. However, an unemployed man is more likely to leave a marriage himself, and is also at a heightened risk of being left by his wife.

The results of the study seem to point to a disparity in attitudes regarding the roles of husbands and wives. Unemployed men appear to sit poorly in both the eyes of themselves and their partners, while a wife's employment status has little bearing either way on the longevity of the partnership.

In addition to the strain that a loss of employment, particularly on a husband's part, can have on a marriage, the university study also found that couples who disagree over finances at least once a week were 30 percent more likely to seek a divorce than those who only had a dispute over money a few times each month.

Although the process of divorce can sometimes become a trying dispute in its own right, when a legal separation becomes necessary on account of financial instability or otherwise, working with a family law attorney can both expedite and empower one's case.

Source: USA Today, "Money Quick Tips: Job loss and marriage," Regina Lewis, Jan. 26, 2013

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Keith B. Schulefand, ESQ | No Fault Divorce

Keith B. Schulefand, ESQ | No Fault Divorce


Keith B. Schulefand, ESQ.
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