It is often noted that money issues cause divorce. And financial issues are a top reason. People generally frame this as an indication that a lack of funds is what causes the marital stress. Couples who don’t have any money are more likely to get divorced, the narrative goes, because they’re unable to make ends meet and they’re trying to better their lives.
But is this narrative actually true? Money issues like this can cause divorce, but do not assume that having a larger amount of wealth is going to insulate you. In some ways, it can actually make divorce more likely.
Conflicts are still possible
One thing to remember is that financial conflicts can still happen, no matter how much you earn or how many assets you own. If you and your spouse disagree on how to use money or who should have control over financial decisions, it doesn’t matter if you have $10 or $10 million in the bank. These disagreements can still cause friction and may lead to a divorce.
People have financial freedom
Additionally, wealth brings a level of financial freedom that couples with less simply don’t have. In fact, there are people who wish they could get divorced but don’t do so because they are barely making ends meet in their marriage. They’re worried about their financial future if they leave. They feel dependent on that income, precisely because it is not very much.
However, a wealthy individual may know that they have plenty of money to make ends meet on their own, so they don’t have to stay in the marriage for financial reasons. Couples still run into all sorts of relationship problems that have no relation to money at all. But wealthy couples may be more likely to get divorced because of these issues, since they know they will be financially secure.
Navigating a high-asset divorce
Divorces involving a lot of assets can often get complicated. There are a lot of financial questions to ask, conflicts are possible and it’s very important for you to know about all of your legal options.