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How financial disputes can result in divorce

On Behalf of | May 2, 2024 | DIVORCE - Divorce

The day a couple gets married is often one of the happiest of their lives. Marriage is a sign of commitment and coming together as one family. With that being said, marriage requires numerous adjustments from both spouses. 

One area where couples need to come together is finances. Money isn’t everything, but it opens the door to many of the goals and objectives of married couples. Consequently, should money-related disputes arise, they can be very damaging to the marriage. Financial disputes are among the leading factors in divorce. Here are some common examples of financial disputes between married couples:

Undisclosed debts 

Even partners that have been together for a long time are always learning new things about each other. Many of these factors will be positive, but there could also be drawbacks. A partner may not have been completely open about their financial circumstances prior to getting married. Fortunately, prior debts generally stay with the person who obtained them, but that doesn’t mean debts can’t put strain on the marriage. 

Undisclosed debts can create mistrust between the couples as well as limit their spending power.  

Failing to share 

While spouses should certainly retain some independence, it’s also important to pool financial resources at times. For example, a couple may have a joint objective of purchasing a new family home. Or, they may wish to start a family. Both of these objectives cost money and they usually require a couple to pool resources. 

If an individual has been used to spending their wages independently and saving independently, this can be a tricky adjustment to make. A failure to adjust in this manner has the potential to put stress on the relationship.  If financial disputes are making your marriage unbearable, it may be time to start looking into your legal options.