Kajko, Weisman & Colasanti, LLP

Beating the pressures of wealth and divorce

Wealth has little effect on the harmony between people in a marriage, after a certain amount. In fact, there is evidence that certain levels of wealth are more conducive to combative divorces. Understanding the pressures involved could help people avoid this type of trouble in their own divorces here in Massachusetts and New Hampshire.

An amicable divorce is generally preferable -- just because things go smoothly at the end of a marriage does not necessarily mean one side or the other is getting a better deal. It often simply means that the parties temporarily set aside emotional and social concerns and focus instead on the issues before the court: division of assets, custody of children and spousal support agreements, for example. 

Business Insider defines, in an article about high net worth divorce, a fighting class of people who are wealthy but have yet to attain a level of wealth where they no longer have to concern themselves about money. The article suggests that there is a $5-million cutoff point at which couples cease to fight directly about money. 

Another article in the New York Times discusses looming tax concerns with divorce, particularly alimony payments. This is an important point, in that taxes are often a large drain on the collective resources of a divorced couple. Bringing up issues such as this one is often essential in fostering a sense of cooperation during otherwise combative negotiations. 

The Times article mentions that the alimony taxation, set to take effect in December 2018, could disproportionately hurt children. Since the future wellbeing of children is often a mutual concern, this is yet another reason for wealthy couples to work together for the quick resolution of their disputes.

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