Divorce

Catherine the Great once proclaimed, “All or nothing. If I commit myself to you, you must commit yourself to me!” Many individuals enter into the institution of marriage subscribing to this sentiment, but when they realize that this is not the reality, they file for divorce. Simply stated, divorce is not a new phenomenon. Rather, divorce is common and costly, and it affects the broader economy in an array of ways. Hence, many Americans ask whether it is cheaper to keep her, or him. Individuals considering divorce often [Page 566]wrestle with this question when disbanding their marriage, as well as other trade-offs, such as the tax implications of a divorce. Often, considerations such as the socioeconomic status of the parties and the length of the ...