Portrait of John K Grubb

Texas Divorce and Prenuptial Agreement

4550 Post Oak Place, Suite 201 • Houston, Texas 77027-3139

Phone: 713-877-8800 • Fax: 713-877-1229

Poor Economic Times See Role Reversals with Alimony

An article from CNBC last week looked at the poor economy’s effects on divorce rates. The numbers surprised experts because the poor economic times did not seem to affect people’s marriages. There was some variation, but for the most part the divorce rate has held steady at 50 percent. Experts did find other interesting statistics, though, particularly in regards to the financial settlement part of divorce.

Homes, for example, used to be a common sticking point for divorcing couples. A family’s home would typically be the most valuable asset that the family owned. Nowadays, however, the home is more likely the family’s biggest debt, not the family’s biggest asset.

Another development is that it takes banks longer to foreclose on a home. As a result, families can live there longer without have to pay the mortgage during the foreclosure process. Spouses will then have more money for alimony, child support or financial settlement in the event that they divorce.

An additional recent change has been that more and more women are paying alimony to their husbands and are covering child support for the family. This came about as a result of husbands’ losing their jobs and having difficulty finding new ones given the economic struggles in recent years.

Has the financial difficulties of late made your divorce proceedings go any differently? We look forward to hearing about your experiences dealing with child support, alimony and divorce settlement while at the same time facing a tough unemployment market.

John K. Grubb & Associates, P.C. – Houston divorce lawyers

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