Do Divorces Increase As The Economy Strengthens?

Law Offices of Stephanie L. Mahdavi A Professional Law Corporation Divorce

When you get married, you do so under the assumption that it will last forever. Unfortunately, that is not always the case and divorce is sometimes the best path forward for a couple. There are many factors that go into marital complications, with finances being a major one. It seems strange to think that divorces would increase as the economy strengthens, but we have evidence that shows that may be the case, especially for those in the higher income brackets.

At the Law Offices of Stephanie L. Mahdavi, we want to help you if you are going through a divorce. When you need a Westlake Village high asset divorce attorney, we will work to ensure that your interests are looked after throughout the entire process.

What Can Happen?

We already know that finances are the leading cause of stress in a relationship. While many of these issues can be worked through, that is not always how it works. We now know that those with a higher income may struggle even more, especially when it comes to keeping a marriage together.

For some, the problems come as they try to maintain a more expensive lifestyle as their income increases. One attorney told CNBC that he sees many couples who make over one million dollars a year who have nothing saved in a retirement plan. They spend more and save less and this can significantly impact their futures.

We also know that high-income earners tend to work longer hours and travel more, forcing them to spend less time with their spouses and children. The extra money should be a plus, but the process of earning it can ruin a marriage.

According to the American Academy of Matrimonial Lawyers, divorces tend to increase when the economy is thriving.

High Asset Divorces Are Complicated

No divorce is easy, but for couples with high incomes and plenty of assets, the process can become incredibly complex. Consider all of the following property that will need to be divided equitably:

  • Marital home
  • Vacation homes
  • Rental properties
  • Any businesses
  • Vehicles
  • Boats
  • Artwork
  • Furniture

All accounts will also need to be divided, including:

  • Checking and savings accounts
  • Brokerage accounts
  • Retirement funds and pensions
  • And more

Any debts that a couple has accrued will also need to be settled or divided during the divorce process.

If one spouse has been dependent on the other, the courts may order that spousal maintenance payments (alimony) be made to the spouse with lesser means in order to help them maintain a lifestyle similar to the one they have been accustomed to.

What We Can Do For You

Going through a divorce is never easy, especially when there are many assets involved. At the Law Offices of Stephanie L. Mahdavi, our knowledgeable and experienced team understands the divorce laws in California and will guide you through the entire process. We will ensure that you are treated fairly and able to move on with your life. When you need a Westlake Village high asset divorce attorney, you can contact us for a consultation by clicking here or calling 805-379-4550.

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