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More wealth may make divorce more likely 

On Behalf of | Jun 19, 2024 | Divorce

Couples who are struggling financially often find themselves filing for divorce because of financial stress. They can’t make ends meet or pay their bills. They end up in constant conflict about their finances. The whole relationship just gets very stressful and the couple decides to end things.

Conversely, people sometimes assume that this means wealth can prevent a divorce from happening. If that couple just had more money, they wouldn’t have had to end their marriage. They wouldn’t have been experiencing financial stress. 

But studies have found that wealth may make it more likely that a couple will split up. Why is this?

Financial stress still exists

For one thing, wealthy couples are not immune to financial stress. They may have higher expenses to go along with their higher earning levels. They could still struggle to pay the mortgage – even if that mortgage is on a $1 million-dollar home. Additionally, they could still run into conflicts over how to spend their money, how much to save, what purchases they’re going to make and the like. 

They have more financial freedom

The biggest difference, though, is that wealthy individuals tend to have more financial freedom. Even if the marriage ends, both people will easily have enough money to make ends meet on their own. This means that, if they want to get divorced, they feel free to do so. Couples at a lower economic level may be unhappy, but they may stay together because they need both sources of income.

If you are getting divorced with significant wealth and assets, it can be complex, and it’s crucial that you understand your legal options at this time.