The recession has affected the rate of divorce filings across the country, but it has created considerable opportunites for individuals in certain economic circumstances to exploit the economic downturn to their favor.
Child and Spousal Support.
If an individual is the primary breadwinner or is obligated to pay support, then a reduction in income due to the economic recession affords an excellent opportunity for the individual to either petition the court for a modification if an order has already been established. Or, if no order has been established, then that individual should proceed in setting the amount of support to take in account his current financial circumstances.
Spouse with Title to Assets.
A spouse with title to assets which may be treated as marital property now has an opportunity to cash the opposing spouse out of the assets, which will likely be valued at their lowest due to the recession.