James R. Schaffer, P.A.

Wealth does not prevent couples from seeking to divorce

| Oct 17, 2018 | High Asset Divorce |

It may be a common sentiment among our readers in Florida that having a little bit more money might make everything in life a little easier. With more money families might be able to enjoy more financial stability and take better vacations, parents could ease off of their jobs and enjoy a little down time and kids would not have to worry about how they will pay for college. Money seems to be the root of many benefits in life, but, according to new research, it may also be a root of conflict in marriages.

According to a recent survey, money was listed as the number one cause of stress in relationships, but not always because there was not enough of it to go around. Having different attitudes toward and uses for money caused much strain for marital couples, but this was the case whether the individuals were high income earners or earned less.

Earning more money can create stress because often with greater spending power comes greater spending. Couples with high incomes can spend everything they make and find themselves living paycheck to paycheck, even when those paychecks are large.

High income earners suffer from other money-related stresses, but many of those go along with the jobs they hold. In order to earn significant income many people must forego time with their spouses and kids in order to do their work, and in turn these issues can come back and cause marital discord and lead to divorce.

Money may make some parts of life easier, but having it is not a guarantee that a marriage will last. When a high asset divorce between high income earners happens, the parties need to understand their unique legal and financial needs.