Your standard of living could make divorce harder for your kids

| Mar 1, 2021 | High Asset Divorce

Of all the possible reasons that divorce could be hard on kids, your financial success probably seems like an unlikely source for problems. You might think that children from lower-income families would have a harder time going through divorce because of the limited resources that their parents have.

Research on how divorce affects families, and children in particular, has shown the opposite to be true. Children from a higher-income families often have a worse time when their parents divorce than children from lower-income households.

Divorce can mean a sudden change in lifestyle

Children from well-to-do families may have to drastically change their lifestyles when their parents divorce. If one parent makes substantially more than the other, the children may have a hard time adjusting to life with the lesser-earning parent.

They may have to forgo some of the amenities they once enjoyed, like expensive family vacations. Even more difficult for many kids is the possibility of switching schools. Moving out of the family home might mean that the children are no longer in the same school district. Even if they attend private school, those educational arrangements might change as a result of the divorce.

How can you help limit the negative effects of your divorce on the children?

Understanding that divorce could be difficult for your kids is a good first step. Making a concerted effort to prioritize the kids in every aspect of the divorce can also be a smart move. For example, limiting how much conflict the kids have to witness could make things easier for them.

You may also want to consider what extra things you could do to help them. Agreeing to pay their private school tuition in addition to child support might not be a legal requirement, but it could make their lives a lot better. The same is true of agreeing to let them stay in the family home until all of the children are adults.

The age of your children and the relationship you have with your spouse will largely influence what steps you can take to mitigate the effects of your divorce on their mental health and development.