Financial infidelity: It can lead to and also affect divorce
No two California married couples are exactly the same. In fact, you and your spouse may have even gone through changes within your own relationship through the years. Most couples have a financial personality. Perhaps you and your spouse have always shared every detail of your finances. Maybe one of you has typically been in charge of “the books” because the other doesn’t really like to deal with financial matters. There’s no right or wrong way to oversee finances in marriage.
It’s up to you and your spouse to decide how the financial aspects of your marriage will work. Problems can arise, however, if your spouse doesn’t stick to your agreements. Financial infidelity is a big problem in many marriages. In fact, it often leads to divorce. Some spouses continue to face financial infidelity problems even after filing for divorce.
Types of marital infidelity regardingfinances
One or more of the following issues may have been a determining factor in your decision to divorce your spouse:
- If your spouse keeps failing to tell you about pay raises, cash winnings or even an inheritance, it is definitely a sign that he or she is trying to hide money from you.
- Using money that was set aside for emergencies without telling you is another sign of financial infidelity. Did your spouse lose a job or incur some type of fine?
- Secretly spending money without telling you is another form of financial disloyalty.
- If your spouse has been accruing debt without letting you know about it, it’s understandable you’d be quite upset upon discovering, for instance, a hidden credit card balance.
It is never a good idea to lie about money to your spouse. Even if you and your partner prefer to keep separate bank accounts, it doesn’t justify lying about financial issues. If you wind up being one of the many California couples who divorce this year, financial integrity is of paramount importance when it comes to property division proceedings.
Hiding assets is against the law
If your spouse was not honest about finances in marriage, you likely wouldn’t be surprised if he or she tries to hide assets in divorce. It’s a common problem. The court doesn’t look favorably upon those who do it. It’s illegal and a judge overseeing your property division proceedings can hold your ex in contempt of court if you show evidence of a hidden asset problem.