NEWS: High end divorce firms report increase in divorce business – couples with assets chosing to divorce now
The American Bar Association posted an interesting article about an increase in business for divorce law firms handling higher end divorce. A link to the article is here. While the news is full of stories about couples postponing divorce in the economic downturn, some couples with assets are choosing to divorce now for asset valuation issues. For divorce purposes, assets are likely to be valued at the time of settlement or trial. Electing to divorce during the economic downturn locks in lower valuations on securities and real estate, leading to lower equalizing judgments. Our experience has been that some clients have been able to retain assets in divorce for zero valuation because of the market declines, where in prior years they would have to pay to retain the assets in divorce.