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Divorce can be good for finances

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Divorce can be good for finances

| Dec 28, 2019 | family law |

As the end of the year approaches, many people in Texas and around the country will be looking toward their future and making changes. Some people may decide to file for divorce after the holidays are officially over. Many law firms report that they see an increase of people filing for divorce in the month of January, with some saying filings can rise as much as 30%. Though many people typically associate divorce with a decrease in income, especially for women, researchers say that isn’t always the case.

According to an expert at the U.S. Census Bureau, when states have laws that make divorce easier to access, that can help both people in the long run, but particularly women. Having the ability to file for a “no fault divorce” increases the likelihood that both spouses will work outside the home on a full-time basis. Having a solid career can help women take care of themselves.

Another study showed that if states have divorce property rights that consider the homemaker’s role in the household, the percentage of marriages actually increases. This could indicate that women feel more comfortable entering into marriage even if they don’t have employment. Research also shows that rates of domestic violence drop when both spouses have more legal ability to file for divorce. Both men and women are less likely to commit or be victims of domestic violence by 30%.

Though divorce can certainly impact a person’s finances, this research shows that there can actually be some financial and personal benefits to divorce. Those here in Texas who are considering filing for divorce may want to consult a family law attorney for further advice. The most important thing is that both parties are able to move on and start their new lives.