WE ARE AVAILABLE to meet clients and prospective clients by telephone and video conferencing, using either Zoom or Facetime. We are also available in person, whatever works best for you! We will continue to assist you in any way we can. Please do not hesitate to call our office and let us know how we can help.

Fort Myers Family Law Attorneys
Contact Us

Does wealth help keep couples from divorcing?

| Dec 28, 2018 | High Asset Divorce |

Many of us are conditioned to believe that money has the potential of resolving our problems. However, researchers with the American Academy of Matrimonial Lawyers have concluded that divorce rates increase when the economy is doing well and the more money that a couple makes.

The researchers relied on a number of previous studies including a survey conducted by SunTrust Bank that showed that the higher the net worth a couple has, the more likely that they are to divorce. Of 2,000 adults polled by the bank, 35 percent admitted that financial woes threatened their relationship with their partner.

Another study by the Federal Reserve Board showed that the more mismatched partners’ credit scores are when they first start dating one another, the more apt that they were to split up within five years of the start of their relationship.

That same research also led the Feds to conclude that if both partners had high credit scores when they first became a couple, then these individuals generally enjoy a lasting relationship.

While it may be true that a couple that begins their relationship on good financial terms may stick together, those who get their financial affairs in order or become wealthy later on often struggle.

This may happen in particular if the couple generates a high salary yet fails to save anything. It may also happen if there’s a significant income disparity between the two partners. If one spouse is working while the other stays home raising the kids, then it can result in the husband or wife feeling a sense of resentment toward the other.

Individuals in Fort Myers who have a high net worth face unique obstacles in settling their divorces, especially if they have assets that are hard to value or if one of the spouses has been the primary breadwinner. This is why it’s important that individuals of means seek out the guidance of an experienced high asset divorce attorney to understand their options.

Archives

  • The Florida Bar | Marital & Family Law
  • Super Lawyers
FindLaw Network