Is the recession pushing the rich to divorce?
July 12, 2008 7:02 pm Other Divorce News
Last night I was at my friends divorce party discussing the latest news headlines, Madonna, Christie Brinkley, Greg Norman, A-Rod… Jane who divorced recently sat back in her chair waved her hands in the air and shouted “we have a divorce epidemic” we pondered why this may be, Recession? Hype? Popping open another bottle of champagne I reached for my fabulous new i-phone and searched any relating stories.
I found an article in “The Australian.news” which quoted Raoul Felder, the New York lawyer who represented Larry Fortensky in his divorce from Elizabeth Taylor and who works exclusively with the very rich, said his company’s caseload had soared from 250 to 300 in the past year.
Also quoted was family lawyer Jeremy Morley, who also represents the extremely wealthy who said the number of inquiries from potential clients had increased nearly 40 per cent in the past year. So has the downturn in the economy open the flood gates for divorce? Jeremy Morley seems to think so, he said, “it makes people nervous and more inclined to change their lives”.
The multi million pound bonuses are no longer there for the City executives, hedge fund managers and property developers, with thousand’s losing their jobs; it’s no surprise that this would put a strain on their marriage.
Psychotherapist, Kenneth Mueller who works with a number of Bankers and property tycoons, said “The credit crunch is starting to become a really big issue, especially for the moneyed classes.”It’s like drinking or gambling or sexing your way out of feelings, but with a fabulous family vacation or great clothes or wonderful meals: money can become an addiction that masks the reality. When that goes, reality has to be faced and accusations start flying.”
You can divorce under New York Law on grounds of: of cruel and inhuman treatment, abandonment, prison for three or more years and separation for at least one year and of course adultery.
Everyone will have their own opinion, Lawyers, therapist and the rich themselves have added why they think there is a huge upturn in multi-million pound divorce cases, however cynical this sounds, we know divorce isn’t just motivated by economics but it may play an important role.
Divorce Diva asks your thoughts on this story.
