Credit crunch increases divorces?
New statistics released last week suggest that more women are seeking advice on divorce proceedings before the credit crunch causes the family assets to dwindle further in value.
Whilst there may be those who will take such a mercenary approach to the end of their marriage, the number of enquiries we've seen at Seddons has been as constant as any September. Our family law enquiries peak every January and September, after families are forced to spend time together over Christmas or during children's school holidays. This September was no exception but it's too early as yet to say whether the divorce enquiries for the rest of the year will show an increase linked to the economic climate.
What we have seen, however, are more clients seeking to protect their wealth before marrying by having a prenuptial agreement. Several clients have commented already that they are more protective of their assets now because of the credit crunch, therefore adding to the anxiety caused by settlements in "big money" divorce cases in recent years. While prenups are not completely binding, they are becoming increasingly relied upon by judges so clients are taking the view that it's worth while having one to protect themselves as much as possible.
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