Family Law
Get Rich, Get a Divorce
Rising real estate prices in New York have had spurred on-the-fence spouses to make the trip to divorce court.
That’s the conclusion of a New York Times article that cited the research of economist Gary Becker, who found that couples experiencing an unexpected and large rise in net worth are at higher risk of divorce. These people suddenly realize they don’t need each other to survive financially, he concludes, and are emboldened to file for divorce.
He also found that men with higher earnings are more likely to remarry, supporting the concept of trophy wives.
Manhattan divorce lawyer Nancy Chemtob has seen the phenomenon. “The equity that there is in real estate is one of the impetuses why there are so many divorces,” she said.
