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Does wealth stop divorce?

On Behalf of | Jan 5, 2023 | Divorce |

Financial problems are a leading cause of divorce. They do rank behind infidelity, according to some sources, but they are clearly a top cause that are cited often. These financial issues can cause a lot of stress and eventually cause a marriage to erode.

The assumption that many people make is that these financial problems reflect a lack of capital. For instance, perhaps a couple only has one main breadwinner, and that person loses their job. They wind up not being able to make ends meet, the relationship sours and they get divorced. Would that have happened if they hadn’t lost their job to begin with? It’s difficult to say.

What this suggests is that simply being wealthy would dramatically lower your odds of divorce because you wouldn’t have to worry about any of these issues or stressors. Is that true?

The opposite may be true

Surprisingly, the opposite may actually be true, in that being wealthy can increase your odds of divorce. Some studies have found that there’s absolutely no insulation from divorce, and that these couples still struggle with financial disagreements. These disagreements can lead to divorce in the same way they would for couples with far less earning capacity. For instance, even those who make $100,000 a year could have trouble paying their bills if their expenses are very high – car payments, mortgage payments, business loans, taxes, insurance costs, etc.

Another reason that wealthy couples may be more likely to divorce – even when they can easily pay their bills – could be the assurance of financial security after that divorce. Some couples who are struggling to make ends meet when both people are working and contributing will avoid getting divorced because they need two incomes to have that level of financial stability. A couple that knows they will be splitting up $50 million when they divorce doesn’t have to worry about having nothing. This means either person could feel more freedom to leave the relationship if that’s what they want.

The financial side of divorce can be very important, so make sure you know what legal options you have.