Many older Pennsylvania residents will remember a time when husbands were expected to be the primary bread winner. However, that expectation is no longer the norm. In today’s world, almost 40% of wives earn more than their husbands. While some couples are fine with this arrangement, it may lead to marital problems. According to a 2016 Harvard University study, there is a 33% higher risk of divorce among couples when the husband earns less than the wife.
One reason for this higher risk of divorce is the public’s perception of the husband’s role in family finances. When asked who should provide income for the couple’s children, almost 40% of respondents named the father as opposed to 25% who named the mother. Additionally, about 75% of respondents said that the growing number of women in the workforce has made it harder for couples to raise children.
On the other hand, couples are more likely to stay married when both spouses earn about the same amount according to a Cornell University study. Additionally, when their combined income is high enough to provide a comfortable lifestyle, couples are even less likely to divorce. One reason for this could be that the couple’s joint success isn’t as damaging to the husband’s ego.
When a wealthy couple does divorce, the division of property can become quite complicated. Many couples jointly own business assets and real estate holdings in addition to the family home. There also may be pensions, 401(k) retirement plans and company stock. In order to ensure a fair and equitable division of assets, anyone involved in a high-asset divorce may want to enlist the services of a capable law firm.