How the Economy Affects Divorce

Colorado Divorce Lawyers Helping People Cope

Economic conditions often play a role in divorce that many couples may not have considered. While trends in our ongoing economic downturn indicate many couples simply cannot afford to get a divorce, those who do face sobering realities. Potential job loss, dwindling investments, declining property values and rising debt all impact the division of marital property, spousal and child support payments and more.

At the Denver, Colorado, Law Office of Eric Ruderman, our experienced divorce attorneys can help you understand the reality of how the economy impacts various aspects of divorce. Contact us today to lean more.

Managing Post-Divorce Expenses

For many couples already struggling to maintain their economic foothold, the first challenge they will face in a divorce is how to manage expenses post-divorce, including mortgage or rent payments, bills, insurance, health care expenses and others, as they now have to maintain two separate households. For parents, meeting their parental responsibility can put further strain on financial resources. Whether they are the custodial or non-custodial parent, child support and spousal maintenance may or may not adequately cover the cost of maintaining separate households as a single parents. We can help you explore your options and make an informed decision.

Managing Debt after a Divorce

A second and often equally major challenge concerns marital debt management. Marital property division isn't just about who gets the house and other assets. Dividing property also involves splitting their existing debt. Today, depressed house values and multiple mortgages can mean many spouses owe more on their home than it is actually worth. Accurate valuation can mean that reassessing property values can result in even bigger shortfalls. Compounded with credit card debt, outstanding personal loans, and support obligations, the road out after divorce can be a bumpy ride. We offer sound legal advice and guidance in determining strategies that make sense for you situation

Mediation and Alternative Dispute Resolution

Pursuing a traditional divorce through the courts is often a long, costly process that can financially cripple both spouses. For some divorces, a more economical option involves pursuing a divorce through mediation or another form of alternative dispute resolution. Spouses can save valuable time and expense by working together to resolve matters in a more constructive and ultimately far more cost-effective solution a prolonged, expensive legal battle in court. Mediation allows them to use more of their often limited financial resources for the benefit the whole family's future.

If you are considering a divorce in Denver County, Jefferson County or a neighboring Denver metro area county, the Law Office of Eric Ruderman can help you explore options. Contact us at 303-861-1444 to find out more about how we can help you.