The deepening recession, increased unemployment, and stalled housing market have negatively impacted the financial situation of most clients of the family lawyer. Many clients' homes are underwater because of declining values. Those divorcing couples fortunate enough to have equity in their most significant marital asset, their home, are unable to sell it. Combined with the plummeting value of retirement accounts, practitioners are looking at marital asset balance sheets that are nothing less than bleak.
Sue K. Varon & Martin S. Varon,
Domino Effect of the Current Economic Crisis,
Rich. J. L. & Pub. Int.
Available at: http://scholarship.richmond.edu/pilr/vol12/iss3/6