Cordell & Cordell attorney Barbara Johnson-Stern was interviewed by KKTV 11 News in Colorado Springs on the effect the economy may have on relationships.
Across the country divorce attorneys report business is down. The American Academy of Matrimonial Lawyers says 37% of attorneys polled reported fewer divorces during this economic downturn. But here in Colorado, at least at the offices of Cordell and Cordell, business has been consistent.
“We are still seeing a lot of people come in and really want to start and finish their divorce. It can be a good time to end your marriage,” said Johnson-Stern. She says that’s because during a recession, there’s less to divide up.
“If your house value is down, lets say a year ago you had $100,000 you had to share, now you have $10,000, it may be possible for one party to keep a house if all they have to distribute is $10,000,” Johnson-Stern said.
Watch or read the complete story on divorce in a recession.