Finances Are the Most Common Cause of Marital Discord
There are many matters that need to be sorted out between married couples when they divorce. Settlement terms include a wide variety of issues that need to be resolved in order to finalize the end of the marriage. Many things are likely already in contention between the two parties. Finances are the most common cause of marital discord and can become a serious area of disagreement in a divorce.
Marital Problems Due to Financial Stress
Couples who are having financial troubles are more likely to get divorced. The stress of difficult finances can take its toll on marriages that may already be experiencing problems. Overspending can create disharmony between spouses. Lack of employment, or being underemployed, can also make it hard on families. Of course, even those with adequate income may also have financial woes. Couples may disagree on how to spend money, for instance.
Differences in How People View Money
Couples don’t always discuss their view of money before they marry. Everyone has their own way of handling money, and often these approaches don’t complement each other very well. These differences can cause people to argue about money issues, even if they agree on many other matters. Disputes over money can escalate, and can create serious rifts between couples. These arguments can bring out other areas of discord between husband and wife.
Awareness of Finances during Your Marriage
In many marriages, one person is in charge of the bills and finances, while the other takes care of different responsibilities. If a couple decides to part ways, the state of their finances may come as a major shock to the person who was not primarily responsible for the financial management. It is advisable to remain aware of your financial information throughout your marriage. Property and assets generally belong to both parties in a marriage, and when a divorce takes place, the couple is supposed to divide them up in an equitable manner.
Help with Financial Issues in Divorce
Finances are among the most difficult areas of settlement in a divorce. The first step in resolving money matters is to make a complete list of assets and debts. During the divorce, neither party is allowed to make any large transactions, and cannot sell off important assets. Your attorney will help you review your finances and assist in protecting your rights to ensure that your settlement is favorable.
Contact the experienced family law attorneys at Udall Shumway PLC to learn more about how to proceed with your divorce.
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice regarding The Most Common Cause of Marital Discord, or any other family law issue, please feel free to contact Steven H. Everts at 480.461.5300, log on to udallshumway.com, or contact an attorney in your area. Udall Shumway PLC is located in Mesa, Arizona and is a full service law firm. We assist Individuals, families, businesses, schools and municipalities in Mesa and the Phoenix/East Valley.