For many California residents, money can play a major role in the success of their relationships. The results of a survey of more than 2,000 adults that was conducted by a leading bank indicate that money is the main cause of tension in a relationship. The research also indicated that 35 percent of people identify finances as the leading reason for discord with their significant others.
Research by the Federal Reserve Board shows that the greater the disparity between the credit scores of a couple, the higher the chances that their relationship will not last five years. People who have the highest credit scores tend to have committed and enduring relationships. Also, the higher the credit score and the better the financial standing at the beginning of a relationship, the lower the chances that the relationship will end after a few years.
However, despite those results, wealthier spouses do not necessarily have a better chance of having a successful and long-lasting relationship. Some wealthy couples may have excessive monthly expenses, a situation that leaves them financially compromised and at odds with one another about money. There are also people who earn an income in excess of $1 million every year but have a depleted 401(k) account.
A divorce attorney may consider the circumstances of a divorce case and tell a client which legal strategies could be used to resolve conflicts regarding the division of assets, alimony, child support and other financial issues. If necessary, the attorney could litigate to help a client obtain favorable divorce settlement terms.
