In our society, we frequently hear about financial problems leading to
divorce. Often, extended periods of unemployment, or Chapters 7 or 13 bankruptcies
are precursors to divorce. Clearly, financial struggles can strain a marriage,
and ruin all hopes of marital bliss for reasons we can understand. But
what about divorce statistics for successful entrepreneurs? We rarely
see the stats and facts on how success or entrepreneurship affect marriage
in the United States.
While arguably, the most intelligent single people tend to gravitate towards
ambitious, successful individuals, they often fail to realize the loneliness
that can be involved in a high-net-worth marriage. While not all high-net-worth
marriages buckle under the pressure of success, many do. The demands of
a successful business can put distance between spouses, leading to physical
and emotional separation, and divorce.
Common Causes of Divorce
In the average marriage, common causes of divorce include infidelity, a
lack of communication, and divergent goals – the most affluent married
entrepreneurs can experience all three in abundance. Often, an entrepreneur’s
business will occupy their thoughts and all of their time, producing a
toxic cocktail that can put their marriage’s stability at risk.
If the entrepreneur’s spouse does not work with them, it can be
difficult to talk about their daily struggles and concerns in business.
Then there’s jealousy; many entrepreneurs talk about their business
as their “passion,” but they do not feel the same way about
their spouse or their children. If the entrepreneur started a business
to do “their own thing,” and they already had a strained marriage,
the business can turn cracks into canyons, creating an even greater distance
between the struggling couple. Some people resent rather than celebrate
their spouse’s success.
Divorce Can Destabilize a Business
Just as the building of a successful business can lead to divorce, entrepreneurs
must be aware that divorce can also destabilize their businesses, particularly
if the “brand” is focused on the couple or the family. It’s
can also be an issue when the business itself is not shielded in a
prenuptial or postnuptial agreement. Lastly, divorcing spouses who partner face their
own unique challenges; sometimes someone has to walk away from the business
in order to end an unhappy marriage.
If you are an entrepreneur, it’s important to work with a divorce
attorney who has experience representing business owners in their divorce
– one who knows how to protect an entrepreneur’s interests
throughout the divorce process.
Contact our firm
to schedule your initial consultation. For more information about us, read about our firm
and our attorneys.