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How wealth relates to divorce risk, amicability

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April 8, 2020

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How wealth relates to divorce risk, amicability

Wealth and Divorce

The root cause of many divorces is financial problems. People who are wealthy may have different issues with money, but that does not mean that they have none at all. As a matter of fact, according to CNBC, wealth may actually be a risk factor for divorce.

However, all the news for high-asset couples is not bad. Though wealthy couples may be more likely to divorce, they also tend to do so more amicably. This pertains specifically to couples who have assets in excess of $5 million.

Why wealth may be a divorce risk factor

When a couple is wealthy, there may be an economic disparity between the two spouses. Often, one spouse is not working while the other is a high-income earner. The economic disparity can be a source of friction, especially when the job involves long hours at the office and frequent business trips, which can put a strain on the relationship. Even with wealthy couples, expenses can outstrip income and the couple may experience financial struggles as a result.

Studies show that people tend to divorce when they can afford to. Therefore, it may not be that wealthy couples are more unhappy than others, merely that they have the resources available to facilitate a split while other couples may feel compelled to get along until their situation improves.

Why high-asset divorce may be more amicable

According to Business Insider, anecdotal evidence indicates that couples worth at least $5 million tend to divorce more amicably. Couples who know they will be comfortably off even if they do divorce tend not to fight as fiercely over the split. They also tend to use proxies to handle whatever disagreements do arise during the divorce process.

However, the pattern does not hold true for couples within the range of $1 million and $5 million in marital assets. This may be because these couples feel less secure in their financial situations and so feel that they have to fight for individual survival during a divorce.

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