It is no secret that money issues commonly cause marital problems. Unfortunately, disagreements about spending, debt and financial responsibilities can reach a point where California couples feel that the matters will never be resolved and that divorce is the only answer. Of course, money issues during a marriage could also lead to conflict over assets during a divorce.
One money issue that could play a role in both marriage and divorce proceedings is hiding assets. Some spouses may think that if they carefully divide expenses rather than combining their funds, then they can stash cash whenever they want. However, that could constitute financial infidelity, especially if the spouse does not tell the other about the funds. If this happens, it is likely that the spouse may try to hide assets during the property division proceedings.
Debt can also play a major role in marriage and divorce. One spouse may want to stay on top of finances and remain as debt free as possible while the other simply spends and uses credit seemingly without thinking of the consequences. It is important to remember that marital debt is divided during property division proceedings, and one spouse may have to fight to avoid responsibility for a spouse’s overspending.
Conflict over assets and debts can cause a divorce to seem never ending. Of course, in some cases, it may be necessary to continue litigation in order to work toward the best outcomes. If California residents anticipate marital money issues playing a role in their divorce cases, they may wish to discuss their legal options with divorce attorneys.