Michigan couples may be interested to learn that a survey of more than 2,000 adults found that money is the primary cause of relationship stress. Thirty-five percent of the respondents highlighted finances as the main issue of contention between them and their significant other.
Additional research shows that the couples whose credit scores have a greater disparity have a higher likelihood of going their separate ways within the first five years of their relationship. Couples with the highest credit scores have a higher chance of maintaining enduring relationships. The research also indicated that couples who were in good financial standing and had higher credit scores during the beginning of their relationship had a lower likelihood of separating after the initial few years of their relationship.
However, having wealth as a couple does not automatically mean that the marriage will last. One attorney reports that there are many couples who have a significant amount of money but are having financial difficulties because of their high monthly expenses. It is not unusual for people to earn an excess of $1 million a year and have no funds in their 401(k) account.
Couples who have a high net worth may make themselves vulnerable to greater disparities related to financial issues. For example, for some couples, one person is earning a very high income while the other is not employed. This results in an economic disparity issue.
A divorce attorney may assist clients in a high-asset divorce by advising them of their legal options regarding the resolution of divorce legal issues, including the equitable division of assets. Litigation may be used to ensure that clients obtain favorable divorce settlement terms regarding the division of financial assets, including retirement funds, pensions and 401(k) accounts.