Causes of Divorce: Finances | Atlanta Divorce Lawyers
As Atlanta divorce lawyers, we handle divorces each year that are caused, in one way or another, by financial problems. According to a recent article in Daily Finance, “financial infidelity” is on the rise and can have an enormous impact on the health of marriages.
In a recent survey of Americans, it was reported that 1 in 3 people have lied to their partner about money. In addition, 76% of those surveyed said that financial deceptions had an impact on their relationship. Knowing that deception has such an impact on relationships, it is surprising that 1 in 3 will still lie to their partner about a financial issue.
Author, wealth strategist and relationship coach, Paul Mourigat, says that the “two most common forms of financial infidelity are squirreling away substantial sums of money to be spent on a guilty pleasure and hiding payroll records from a spouse in order to control information and perceptions.”
When one spouse is hiding money, it breaches trust between the couple. In addition, it also makes it very difficult to get an accurate picture of marital assets that will lead to a fair and equitable division of marital property in a divorce.
Of course, “fair and equitable” doesn’t necessarily mean a 50/50 split. According to attorney Jeff Cleghorn, consideration is given to a variety of factors and at the discretion of the judge presiding in the case. It also means deciding how debt will be divided. This can be a big factor when one of the parties has been secretly spending and keeping debt hidden from their spouse.
When financial infidelity or disagreements on spending take their toll on a marriage to the point that a couple wants to permanently separate, our Atlanta divorce lawyers can help. We will work to create a settlement agreement that is fair and equitable. Our team will work hard to help you get a fresh start on the next chapter of your life.