Will Divorce Ruin Me Financially?
“Will divorce ruin me financially” is a question most spouses ask themselves. Each year, almost 3 million men and women have to go through the financial and emotional trauma of divorce.
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Keeping a stable marriage is one of the best ways of creating and preserving wealth. But divorce, on the other hand, is expensive. Marital property, including assets and debts acquired during the marriage (and sometimes even before the marriage), is divided between the parties. In most cases, divorcing couples often need about a 30% increase in their income for them to maintain the kind of lifestyle they enjoyed before divorcing. The main reason is that the same cumulative income and pool of assets now have to support two households instead of one.
For the more affluent
couples, divorce might shake up their finan