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How having more money could make a divorce more likely

| Oct 16, 2018 | Divorce |

When couples in Kentucky have similar credit scores, their relationship may also be more likely to last. This was one of the findings of research by the Federal Reserve Board. People with higher credit scores are also less likely to leave committed relationships. However, money can be a worry for many couples. A SunTrust Bank survey found 35 percent of respondents said it was the main issue in their marriage, and attorneys report that wealthier couples could be more likely to divorce.

Having a high income does not always mean that couples have no money worries. One attorney says he sees couples who bring in over $1 million annually but have nothing put away in a 401(k). In some of these couples, there might also be an income disparity, leading to tension, if one person is the main or only earner. The couple might also have little time together if the high earner puts in long hours and travels frequently for work. Another strain could arise in two-income couples if they still fall into traditional gender roles. Sometimes in these relationships, the husband manages all the finances, and this could lead to problems in the marriage.

A good economy could encourage couples to split up. The American Academy of Matrimonial Lawyers reports that divorces decrease during economic downturns and increase during upswings.

People who are concerned about finances during and after a divorce may want to talk to an attorney about the situation. Whether the person wishes to try to negotiate an agreement for property division or to go to litigation, the attorney may be able to assist the person in making decisions about how to approach this process.

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