We assessed the associations between parents' marital discord and divorce, patterns of parent-child relationships, and adult children's subjective well-being. Parental divorce and marital conflict appeared to increase the odds that children were close to neither parent in adulthood. Parental divorce (but not marital conflict) appeared to increase the odds that children were close to one parent only. Drawing on parental resources and balance perspectives, we tested competing hypotheses about parent-child relationships and offspring subjective well-being. Offspring had the highest level of well-being when they grew up in a low-conflict married family and were close to both parents. In cases of divorce and high levels of marital conflict, however, children were no better off if they were close to both parents than to one parent only. (Contains 3 tables and 1 figure.)