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Why doesn’t wealth prevent divorce?

On Behalf of | Jul 8, 2024 | Divorce

Some divorces happen because couples just don’t have enough money. This creates an exponential amount of financial stress. For instance, maybe they have trouble making ends meet, and then one person loses their job. As their finances spiral out of control, they begin arguing more, and the marriage falls apart.

On the other side of this, you have couples where one or both of them earn enough money that they never really have to worry about their finances. Maybe they have a net worth in the millions. Studies have found that this doesn’t prevent divorce, and it sometimes even makes it more likely. But why is this, if having this level of wealth would eliminate financial stress?

The stress may just be different

One thing to consider is that financial stress may not be eliminated by being wealthy. Expenses may just sit at a higher level than they would for couples in lower income brackets. 

For instance, one couple may not be sure how to pay the mortgage on a $100,000 house because they are living paycheck to paycheck. The other couple may struggle to pay the mortgage on their $10 million house because their business is struggling more than it was last year. They have very different living situations, but they face similar financial stress.

The other thing to remember is that some people stay in marriages because they think being married is a necessity for financial security. They need the support of their spouse. But if a couple has a net worth that is high enough, both spouses know that they will be financially secure even if they file for divorce – making them more likely to do so if they are unhappy.

High-asset divorces can often be very complicated. It’s important for those involved to understand their legal options.