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Why Do People Get Divorced - Part II - Money

Dec 4, 2015 @ 07:30 PM — by Michael Green

Unfortunately, the world can be a harsh task master, not all our hopes and dreams come to pass.  So, when the expectations of one party or the other as to the lifestyle the parties were to live changes, often dramatically, it puts great stress on a marriage.  Sometimes, the parties come together to weather a financial storm, for others, the storm breaks them apart, irreparably.  Part of any relationship at core may be love and respect, one or both may be tested and lost through significant financial hardship.  If the parties were having other difficulties unrelated to finances and then finances also become a problem, that can easily tip the parties in the direction of divorce.  Unfortunately, the economy since 2008 has been so difficult for so long that the strongest of marriages have been tested.  

Executives that were high income wage earners have lost their jobs, never to be able to replace those incomes again. Parties have had to dive into their retirement accounts, only to find themselves going into foreclosure as well in homes that were now underwater with no equity to even divest.  With such an economic climate, many, many marriages have been so tested, they were unable to survive.  

Shortly after 2008, it seemed that at least one or both parties that came to me for a divorce had just lost their job.  It was shocking.  Even to this day, I see many couples going through a divorce who have a home in foreclosure or a marital residence they can't sell.  They are still reeling from lost income, never to be replaced from displacement from jobs they had had for over twenty years.  Under such circumstances, the institution of marriage is sorely tested, its unfortunate, but a fact of our current economic reality.  

When there are also children involved, it does seem that our society is fracturing for families and it does not seem fair to those children especially.  So, bottom line, yes, finances seem to be a very large reason for many divorces today.  Sure, this is anecdotal, based on my practice alone, but it is hard to ignore.

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