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Divorce: Financial disagreements can weigh heavily on the wealthy

| Oct 15, 2018 | divorce/marital dissolution

Disagreements concerning finances are a common area of conflict for many married couples in California and across the nation. At first glance, this might seem like an issue that is more prevalent among couples with lesser incomes. However, studies indicate that as a couple’s wealth increases, the risk that arguments over finances may lead to discussions about divorce may also rise.

Arguments and disagreements over finances can place a significant strain on any relationship. However, studies indicate that wealthy couples may face certain challenges that are unique to their situation. In some cases, one party could be the primary wage earner in the relationship, and the difference in incomes could create a rift within a marriage. Some wealthy couples may also carry more extensive financial obligations, and the added stress may do little to help the situation.

As wealth increases, differences in financial opinion may also become a concern. One party may wish to place a substantial portion of the marital income into savings and retirement accounts, while the other may wish to enjoy the fruits of his or her labor. In some cases, a higher-paying job might require one person to travel frequently, and the subsequent time apart could also pose a threat to a marriage.

Making the decision to dissolve a marriage can be challenging, and with more at stake, the subsequent process could prove complex. Those who wish to protect their financial futures during divorce could find it helpful to speak with a family law attorney for guidance on how best to prepare for the process. An attorney can address all the concerns of a client in California and assist him or her in pursuing the most favorable outcome possible during divorce proceedings.