Divorce is big business. In fact, it’s a $50-$175 billion business compared to the wedding industry which is estimated to generate just $40-$50 billion annually. Why is divorce big business? Just read the statistics:
• There is a divorce every 13 seconds which equates to 46,000 divorces per week.
• Almost 50 percent of marriages end in divorce.
• 60 percent of second marriages end in divorce.
• 73 percent of third marriages end in divorce.
In Texas alone, divorce filings accounted for 89 percent of all cases filed in the district courts. In 2014, there were 111,409 divorces filed in Texas district courts out of a total of 125,588. About 62,196 children were affected by divorce in 2012, according to the Texas Department of State Health Services.
In addition to the quantity of divorces, there are a lot of expenses in a divorce—especially in ugly, long-lasting, emotionally- and financially-draining divorces that end up in the courtroom.
A recent survey published in The Journal of Sociology reported that divorce drops a person’s wealth by 77 percent. In addition to the attorney fees, there are often accountants, therapists, realtors and other specialists required before, during and after the breakup, plus lost opportunity costs, increase in living expenses, moving expenses, cost of dividing or selling one’s property and the loss of savings.
With over a combined 40 years of experience in divorce cases, we have seen heart-wrenching and devastating divorces. We believe it is neither the couples nor the lawyers to blame; instead, the problem lies in a system that sets up husband and wife as adversaries, two fighting forces where the supposed winner takes all.
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