Economy Impacts Divorce

Friday, June 11, 2010

North Carolina families have not been immune to many of the same factors that have hit families across the country. One disturbing trend is the reality that because residential homes have lost significant value recently, many married couples who wish to seek a divorce simply cannot afford to because they owe too much on their marital home. The attorneys of Maitland & English Law use their unique backgrounds in both family and real estate law to assist clients with innovative strategies to resolve this and other difficult issues. Where others pose more questions than answers, the attorneys of Maitland & English Law turn your questions into answers.

According to one MSNBC report, a contested proceeding involving a couple with at least one child can expect their divorce to cost approximately $53,000 to $180,000, if they should go to court. The numbers factored in attorneys’ fees, financial advice, counseling and real estate costs for buying or renting separate residences.

In past times many of these expenses were recaptured when the couple sold their marital home and divided the proceeds. Nowadays the disastrous real estate market leaves many homeowners with their largest marital asset, the marital home, turned economically upside down, as they owe more on the property than it is worth.

Despite such dire statistics, we have found that with proper planning and creative thinking Maitland & English Law can successfully help our clients cope with difficult financial issues that might otherwise become an insurmountable obstacle to a mutually desired divorce. The key is good communication and valued legal experience for the parties to achieve their goals. Please feel free to contact us with any questions at [email protected] and let our unique team of family and real estate law professionals go to work for you. We look forward to the privilege of assisting you with your legal matter.

For the complete MSNBC article, please click here