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High priced weddings and high asset divorce

| May 15, 2018 | Firm News, High Asset Divorce |

Many people who wish to one day get married have imagined what their wedding day might be like. They may get ideas from magazines, television shows or highly publicized celebrity weddings. What many Massachusetts residents come to realize is that weddings can become very expensive very quickly. Unfortunately, in some cases, a high priced wedding can turn into a high asset divorce.

A study was done recently, claiming that there may be a connection between expensive weddings and divorce. Planning a wedding can be a stressful process, and each part of a wedding can cost thousands of dollars individually. Food, which is often one of the biggest expenses, can cost, on average, nearly $5,000. Other things, like wedding locations, rings, photographers and flowers, can cost thousands of dollars each. Even the cheaper aspects of a person’s wedding plan, like invitations, can cost hundreds of dollars.

The surveys taken by the research firm showed that the amount of money a couple spent on their wedding affected how much they worried about their guests’ opinions. Couples who spent $30,000 or more on their wedding seemed to be more concerned with making a good impression on their guests than those who spent $10,000 or less. Previous studies have also made similar connections between expensive and flashy weddings and divorce.

An expensive wedding does not guarantee a divorce; these studies only show a possible connection between the two. However, couples in Massachusetts who are considering divorce could benefit from consulting with an attorney. A high asset divorce can be particularly stressful for the couple and the families involved because many people have conflicting opinions about how certain assets should be handled or divided.