There are many reasons why marriages end in divorce, and finances play a significant role in this decision for many Texas couples. However, there may be specific reasons related to wealth and finances that may make a couple more likely to end their relationship. Studies indicate that wealthy couples could face a higher chance of getting divorced than others.
If you are preparing to divorce or wonder if this could be a possibility for you in the future, it may be helpful to understand the correlation between divorce and money. Finances are one of the most common reasons for trouble in a marriage, and wealthy couples could face more money-related strain than others.
Does more money mean more problems?
For some couples, increasing wealth and more money means increasing conflict and more stress over finances. Studies find that as many as 35 percent of couples admit to money being the leading cause of conflict in their relationship. It may interest you to learn how perspectives on money, long-term savings and even your credit score can impact your success in a relationship. Consider the following facts and statistics about the relationship between money and divorce:
- The more discrepancy between the two spouses' credit scores, the more likely the couple would be to separate within the first five years of the marriage.
- Often, couples with a lot of money also have high monthly expenses. This can lead to limited cash flow and stress related to income and money management.
- In high-income couples, one partner often stays home with the children. Financial discrepancy between couples can be stressful and cause the marriage to fail.
There are multiple factors that can impact a couple's chance of staying married or make it more likely the relationship will end. No matter how much a couple makes, relationships are more likely to last when couples are on the same page, financially speaking.
Your high-asset divorce
High-asset divorces tend to be complex and difficult for both parties. If you are facing the likelihood of a contentious divorce process, it may be beneficial for you to take steps to prepare financially and seek guidance regarding the best way to protect your interests. Due to the high-stakes nature of complex divorces, you may find it helpful to secure the guidance of an experienced family law attorney.