If you made the choice to move forward with marriage, chances are that money played at least a small part in your decision. Money arguments are some of the most commonly cited reasons behind many divorces, and this doesn't stop once a person files papers. Money, savings and marital assets are often some of the most hotly contested issues during the divorce process as well.
There are many reasons why marriages break down. However, financial stress can compound issues that do not necessarily have anything to do with money. Two spouses may have different ideas about their financial goals and other things, which can lead to an irreparable rift in the relationship. Finances are a significant issue for couples of all ages and income levels.
Money matters in marriage
Every couple is different, but it can be a difficult issue when a couple does not see eye to eye on financial matters. Simple disagreements over time can lead to relational complications, which only get worse when a financial emergency arises and there is financial stress and other concerns impacting a couple at one time. Some of the most common ways that money can play a role in divorce include:
- The two parties have very different priorities regarding their financial goals for the future.
- One spouse has a significant amount of credit card debt.
- One spouse has a shopping addiction, gambling problem or other type of financial infidelity.
- A couple lives beyond their means, stretching their budget simply to make ends meet each month.
- One spouse tends to make major impulse purchases.
- The two spouses are unable to compromise on financial issues.
- Unexpected expenses arise, such as medical bills.
- The couple started their marriage by spending too much on their wedding.
- One or both spouses feel a loss of financial control.
If you are facing the prospect of divorce, one of the above reasons may apply to your situation. No matter what, you have the right to pursue a strong financial future through a smart financial agreement.
Looking to the future
The issues that led to your divorce may continue and affect your divorce process as well. Regardless of the specific details of your case, you will find significant benefit in working with an experienced attorney who can help you understand your rights and interests regarding a fair property division order. You may want to start with an assessment of your case and explanation of your legal options.