Study: Expensive Rings Lead to Higher Rates of Divorce
Many soon-to-be-married brides love showing off the lavish engagement rings their fiancés have given them. However, a surprising new study from Emory University has found a correlation between expensive rings and higher rates of divorce.
According to researchers, in a survey of about 3,000 adults, couples who spent more than $4,000 on engagement rings were 1.3 times more likely to get a divorce in the future. The study also found that spending less than $500 on a ring correlated with a slightly higher divorce rate.
Similarly, researchers found that couples who spent more than $20,000 on their entire weddings were more than three times more likely than those who spent less than that to end their marriages in divorce.
For couples going through a high-asset divorce, a number of complications could make the process more difficult than the average case. First, it can be a challenge to determine the true value of assets, especially those that are tied up in hedge funds, commodity-based holdings, executive compensation plans, real estate investments and stock holdings. Second, if there is a business involved, both parties may need to examine stock options, deferred compensation, defined benefit plans, restricted stock units and a variety of other complex issues.
In many situations, individuals embroiled in a high-asset divorce need to consult financial and tax experts and obtain accurate data and information, particularly if one party may be hiding assets to protect himself or herself in the property division process. Forensic accountants are particularly skilled when it comes to these issues.
Although it’s difficult to say whether wealthy couples are more prone to divorce than those with modest assets, it makes sense to protect yourself, regardless of financial standing. Contact a Connecticut attorney with experience handling high-asset divorces if you need legal assistance.