Divorce In A Changing Economy

The economic impact of the Coronavirus (COVID-19)pandemic has been multifaceted and severe. Even when the disease was confined to Asia, it had impacted various aspects of the U.S. economy, because China is a major and integral part of the U.S. supply chain, among other reasons. Now that the disease has hit America hard, many people find that their livelihoods, their investments, and even their day-to-day survival prospects are severely harmed.

In many parts of the country, schools, private businesses, and government offices have been closed and/or under severe restrictions, like telecommuting and/or limiting access to the public. There is discussion of a potential long-term quarantine in some major U.S. cities. Many people who own real estate, restaurants, or are in the service industry are pleading with banks to tide them over until the crisis subsides; some have already given up in the face of steep losses and unrelenting poor economic conditions.

There is no “good” time to initiate a divorce action, but could there be any worse time than right now? One of the unintended consequences of families being forced to quarantine together in China was an increase in divorce rates. There is every reason to believe that American families may also be driven apart by the pressure of daily close contact without the buffer of work or outside activities.  That coupled with financial hardship is a recipe for disaster.

The process of divorce is aggravating even when times are flush; at this time of national peril and uncertainty, who wants to risk getting a divorce? A process that normally drags on seemingly forever will now be even more difficult because of court delays, problems selling even prime assets at anything close to their normal value, and employment issues that suddenly change calculations for alimony and support.

Before filing for or answering a divorce suit, you need to seek reliable legal counsel to determine how best to proceed in light of these novel and changing circumstances which may impact your financial circumstances and your custodial plans in unprecedented ways.

Hirsch Legal, LLC helps clients in New Haven and Fairfield Country (Milford, Bridgeport, Monroe, Waterbury,Danbury) navigate the treacherous waters of family court. Our principal attorney, Carmina Hirsch, is a veteran of many high-stakes divorce suits, and is also an experienced divorce mediator. We can help you make well-informed decisions about how best to proceed, taking into consideration the economic factors that will determine your financial viability post-divorce, and the urgent needs of your children. We look forward to speaking with you soon!

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