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Fort Myers Florida Family Law Legal Blog

Connections between high-income earners and divorce

On Behalf of | Jun 16, 2022 | High Net Worth Divorce |

Accumulating wealth has many benefits. Statistics show, however, that financial gain does not immunize Florida residents from the likelihood of divorce. Rather, an old adage sums up the relationship between wealth and divorce: The more you have, the more you can lose.

Financial wealth contributes to the divorce rate

The same assets that provide protection and security during marriage for all members of the family expose vulnerabilities during divorce. Financial solvency and other assets affect property distribution, alimony, child support, and even contribute to child custody. Four of the wealthiest cities in Florida rank within the top 97 cities with the highest divorce rate. All cities had a population of under 25,000.

Unsurprisingly, the relationship between divorce and wealth closely resembles that between wealth and divorce. cities with the highest divorce rate rank in the top 95 wealthiest cities. These data do not establish an indisputable link between wealth and divorce, but merely beg a chicken-or-egg question of cause and effect. Factors such as age, education level and race all impact the rate of divorce.

Lawyers who know the costs

Higher-income couples confront greater financial risk in a divorce both prior to and after the resolution. One spouse’s wealth may trigger the process; the other could feel emotionally bankrupt afterwards. Attorneys who focus on the challenges unique to high-net-worth divorces can provide information.