Rich American couples who have about $5m are more likely to have an amicable divorce, says one divorce lawyer.
That’s in contrast to upper middle class couples worth between $1m and $5m, who tend to fight more under the strain of socio-economic pressures.
This insight comes from writer Lauren Vinopal’s exploration on Fatherly of why the upper middle class — dubbed “the fighting class” — fights the most about money.
Couples fighting about money is nothing new. Financial problems are at the root of many divorces … and that may be particularly so if the couple has a net worth of less than $5m, Vinopal argues.
That’s the magic threshold for rich people to have an amicable divorce, divorce attorney Randall Kessler told writer Lauren Vinopal in an article on Fatherly.
That’s because, according to Kessler, money still matters under $5m, and it’s worth fighting about.
“If you have less than $5m, you’re not set for life. Less than $5m, you’re not secure, no matter who you are,” Kessler said.
Prenups determine what happens to assets, like property, and financial obligations, like debt, in the event of a divorce.
While they often instill fear of a worst-case scenario among couples, it’s smart to sign a prenup so things don’t get ugly should the marriage take a turn for the worse.
“The point is to discuss and plan now, while you are most in love and most in tune with each other,” Terry Savage writes in The New Love Deal: Everything You Must Know Before Marrying, Moving In, Or Moving On!; not later, when you need to argue it out, and these become power issues as much as financial or social issues.”
That’s in contrast to upper middle class couples worth between $1m and $5m, who tend to fight more under the strain of socio-economic pressures.
This insight comes from writer Lauren Vinopal’s exploration on Fatherly of why the upper middle class — dubbed “the fighting class” — fights the most about money.
Couples fighting about money is nothing new. Financial problems are at the root of many divorces … and that may be particularly so if the couple has a net worth of less than $5m, Vinopal argues.
That’s the magic threshold for rich people to have an amicable divorce, divorce attorney Randall Kessler told writer Lauren Vinopal in an article on Fatherly.
That’s because, according to Kessler, money still matters under $5m, and it’s worth fighting about.
“If you have less than $5m, you’re not set for life. Less than $5m, you’re not secure, no matter who you are,” Kessler said.
Prenups determine what happens to assets, like property, and financial obligations, like debt, in the event of a divorce.
While they often instill fear of a worst-case scenario among couples, it’s smart to sign a prenup so things don’t get ugly should the marriage take a turn for the worse.
“The point is to discuss and plan now, while you are most in love and most in tune with each other,” Terry Savage writes in The New Love Deal: Everything You Must Know Before Marrying, Moving In, Or Moving On!; not later, when you need to argue it out, and these become power issues as much as financial or social issues.”
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