Lisa Collins Werner Practicing Exclusively in the Area of Family Law Compassion. Experience. Results

CALL NOW FOR A CONSULTATION
865-973-9286

Don’t trust just anyone to helpwith your family law issues
Depend On Our Aggressive Yet Compassionate Law Firm

Wealthy families may be at greater risk of divorce

On Behalf of | Dec 15, 2022 | Divorce

It can be easy to assume that wealth will insulate you from divorce risks. To a large degree, this is because it’s clear that money issues often lead to divorce, but they usually revolve around a situation where the couple does not have enough money. For instance, they could get divorced if one person has an expensive addiction or if that person can’t hold down a job.

But you feel like you’re on the other side of the spectrum, where you and your spouse are both high earners, and you have a fairly stable financial life. However, some reports have shown that this may actually increase your odds of divorce, rather than decreasing them. Why is this?

Financial freedom

One thing to consider is simply the financial freedom that you have because of your situation. If you have plenty of money in savings, it can feel easier to ask for a divorce. Couples who do not have the same level of assets may be worried to get divorced because they want to get out of the relationship but they’re not sure if they can make ends meet on their own. You’re not going to have that question.

Paycheck to paycheck

Additionally, you may still be living paycheck to paycheck, just like someone who is earning 1/10 of the amount of money that you do. It all depends on the ratio of income levels and expenditures. Many wealthy couples are technically earning a lot of money, but they have such high bills that they still feel the same level of financial stress that other couples would.

Financial infidelity

Finally, there are certainly cases where you feel as if your spouse has not been honest with you about the finances. Maybe they’ve been hiding assets or using money in a way you don’t approve of. Disagreements over the use of money are also a big cause of divorce, such as the argument over spending and saving, and that can happen to anyone.

If you do end up getting a divorce, property division can get very complicated, so be sure you know what legal options you have.

 

FindLaw Network

Need A Divorce Attorney In Knoxville?

We Have Your Best Interests In Mind

We’ll Help You Through The Most Difficult Times

Consultation

Learn About Our Firm