High Asset Divorce: Money Doesn’t Always Buy Happiness
The old saying claims that the best things in life are free. Sadly, life itself can be expensive, and it requires a certain amount of capital to keep things running smoothly. While it may seem that more money may lead to marital bliss, some Kentucky couples may find that the higher income eventually leads to a high asset divorce.
Studies point out that a disparity between a couple’s credit ratings and incomes may contribute to marital discord. Interestingly, a higher level income does not guarantee a successful marriage. While it is reportedly true that spouses who each maintain a good credit rating and have adequate incomes tend to remain in a committed relationship longer, more money does not always equal a happy marriage.
Reportedly, studies have shown that those with a higher income may tend to support a more expensive lifestyle. Often, wealthier couples wind up with higher monthly expenses that tend to increase pressure on both finances and the relationship. Surprisingly, many of these couples do not have any retirement accounts in place in spite of earning an income that may exceed $1 million or more annually. In addition to higher expenses, many of these households may include a stay-at-home spouse, which may increase the level of discord in the marriage. In addition, if one partner tends to control the finances, the other may feel excluded from decision-making.
Another factor that may contribute to the chances of a divorce is the state of the economy. During good economic times, the numbers of divorces increase as each partner may feel financially stable enough to end an unhappy marriage. Regardless of the reasons behind a divorce petition, Kentucky residents who are facing this prospect may have many concerns, especially if theirs will be a high asset divorce. An experienced attorney can help fashion a settlement agreement to provide for one’s current and future needs.