What percent of marriages will end in divorce in 2023? In the United States, between 35%-50% of first-time marriages end in divorce, increasing to approximately 60% for second marriages and 70+% for marriages after the second, according to World Population Review. With these statistics in mind, it makes many of us wonder why marriage is still sought after in the first place. However, when a couple falls in love, their hearts may lead them onto a path that they never imagined they would go.
There are many factors that can cause a marriage to lead to divorce, some being intimacy, finances, communication, change in family dynamics, and changes to one’s lifestyle. No one stays the same forever—daily interactions and events may cause one to change—and this change or multiple changes may cause a relationship to suffer if it cannot adapt.
One type of marriage that seems to bring about a lot of stress is a high net worth marriage. An abundance of financial resources can cause a strain on a marriage, from keeping track of such resources to staying on the same page with one’s partner to even a power imbalance in the relationship. It adds a layer of complexity onto one’s marriage that others may not experience, and due to this, many high net worth marriages fall apart due to the stresses of finances. If one suspects they are in this situation, having the right attorney on one’s side, especially one that has experience in high net worth divorces, can make a world of a difference in the outcome of one’s divorce.
RELATED: Learn what makes a high asset divorce different.
So, what if one finds themselves approaching a divorce, whether it was initiated by them or their spouse? These questions may help them figure out their next steps:
- Is divorce the right move?
- Have you and your spouse tried all options such as counseling?
- Is only one person trying to save the marriage?
- Are your finances and paperwork in order in case the divorce process begins?
- Are you and/or your spouse considered a high net worth individual?
- How would a divorce affect the children?
- Have you found a divorce attorney that you trust to be on your side who has experience in similar divorce situations?
- What is your preferred divorce process?
- Would mediation be beneficial?
If you are approaching a divorce or suspect a divorce is coming in the future and need someone to help guide you through the steps to protect yourself and your family, our attorneys who are well-versed in all family law matters can help. Contact us now to set up a consultation however it is most convenient for you—via telephone, video, or in person.
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