Although the overall divorce rates in the U.S. and here in New Jersey have been declining for some time, a recent news report suggests that there is currently an uptick in divorce filings. The president of the American Academy of Matrimonial Lawyers has linked the recent increase in divorces to the economic recovery, specifically the improving housing market, according to an NBC News report.

The theory is that because fewer Americans are drowning in underwater mortgages they now have the financial security to follow through with intentions to divorce.

Additionally, as the jobs market and the stock market pick up steam, couples whose marriages have been deteriorating may feel ready to finally split one household into two.

It has also been suggested that not only did the recession delay divorces that would have otherwise happened, but it also may have spurred marital problems for some. A survey conducted by the University of Virginia in 2011 found that almost 30 percent of couples said the recession put a strain on their relationships.

While various sources say that divorce filings may continue to rise with housing prices, it may be important to note that Census data revealed only a very small increase in the number of divorced people from 2008 to 2012. Furthermore, the most recent Census also revealed that New Jersey has a very low divorce rate–in fact, New Jersey is home to fewer divorced adults than any other state.

Theories linking the divorce rate to the economy are nothing new. There are certainly couples in New Jersey who may be staying together solely for financial reasons. The thought of dividing assets and dealing with issues like alimony and child support is intimidating for many married individuals. However, while separating marital property is never easy, those who are interested in pursuing a divorce may be wise to seek legal counsel to learn about their rights and options. In many cases, it is possible to negotiate an acceptable and appropriate settlement in divorce.

Source: The Fiscal Times, “As Home Values Rise, So Does Divorce,” Blaire Briody, May 17, 2013