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Financially secure people can also divorce because of money

On Behalf of | Oct 11, 2018 | High Asset Divorce |

A Colorado divorce can be complicated and difficult regardless of the financial circumstances of the parties involved. The factors that lead up to the divorce can also vary based on the situation. But it can be useful to understand what problems are known to precipitate a divorce. Those who have financial security might think that money woes that might otherwise upend other marriages will not affect them. However, as new research shows, having money is often the impetus of a divorce. Having legal assistance with a law firm that understands the inherent concerns with a high asset divorce is an important part of a case.

A survey by SunTrust Bank found that 35 percent of participants stated finances were a major problem that led to the end of their marriage. There were more than 2,000 participants. Other research has shown that people whose finances are on different levels with one partner having a good credit score and the other not having a good credit score are unlikely to last more than five years in a marriage. The higher the credit score, the better chance the person had of being in a steady, long-term relationship.

Despite that, wealthy couples are not guaranteed of a strong marriage for an extended period. Even though the couple is well off, they could have hefty costs for upkeep and are not in as good a situation as it appears on the surface. For those with vast portfolios, their lifestyle could be costly and this could cause financial disputes between the couple. Often, one spouse is the earner while the other stays at home. This too can cause tension. Travel for work, outside diversions, and sudden financial struggles all combine to put the marriage in jeopardy.

Since the U.S. economy is in very good shape, more people will have a better financial landscape. Underlying disagreements can fester and spark the couple to determine that they can no longer stay together and it is better to part ways. Having assistance from a law firm that has experience in a high asset divorce can be one of the key factors in a case. Calling for help with property interests, asset division and more as part of a divorce should be the priority.