It has been reported that men who remain married make more money than those who have been divorced and those who do not marry.
There are a number of reasons put forward as to why this could be. One of the main reasons is that couples define their roles so that the wife will look after the home and the children leaving the husband to focus on his work. They pool their resources.
Looking purely at the economic reasons, in a divorce financial settlement, the couple’s assets are divided to meet their needs. The wife and children may remain living in the family home and the husband may be required to pay maintenance. The income he was previously earning is therefore significantly reduced. The capital that has been built up is reduced. There may be a pension sharing order.
There are also emotional factors. There are cases where the divorce process has such an impact on the husband that he is unable to function at work. Absence through stress is common. Previously achieved performance related bonuses may not be attainable.
There has been some research carried out in the USA which suggests that divorce has a direct impact upon the economy. Henry Potrykus, a senior fellow with the Marriage and Religion Research Institute, a subsidiary of the Family Research Council, and Patrick Fagan, MARRI director believe that marriage is one of the core economic growth factors. When a marriage ends with divorce, the economic growth disappears.
For more advice on divorce or financial settlements follow our family law blog or follow us on Twitter @Divorce_experts.