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Net worth a factor in how couples resolve their divorces

Couples in Maryland and throughout the country who choose to get divorced may be less likely to fight if they are worth at least $5 million. This is according to a divorce attorney based on his experience as opposed to any objective data. However, he believes that those who have less than $5 million aren't secure enough to not attempt to claim it as theirs.

Those who have a net worth close to this threshold are considered to be in the fighting class. They tend to want to preserve their social status, and individuals at this level in the social pecking order will often battle each other personally. Generally speaking, those who are typically considered to be rich will either not fight over money or do so through a proxy. About 9.4 Americans have a net worth of between $1 million and $5 million.

According to the Schwab Center for Financial Research, a net worth of roughly $1 million makes a person financially comfortable. While individuals may go through a contentious divorce, it doesn't mean that the marriage was for nothing. Some professionals believe that a marriage can help a person grow and evolve. Those who are interested in preserving their assets in the event of a divorce may be able to do so through a prenuptial agreement.

Those who own a business, receive an inheritance or otherwise need to protect an asset may benefit from prenuptial agreements. These agreements will ideally be created months before the wedding actually takes place. Doing so may make it possible for the document to withstand claims that it was signed under duress or has terms a person didn't fully understand. Furthermore, it is generally a good idea for an attorney to review it before the agreement goes into effect.

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