Money issues are major causes of divorce

Flicker, Kerin, Kruger & Bissada LLP

One of the major bones of contention in some marriages is that of finances. Nothing can lead to the demise of a marriage quicker than a glut of financial issues that can’t be rectified. Experts have some advice for California couples regarding the most prevalent money issues and how to stop them from leading couples to walk the path of divorce.

The first thing couples might want to discuss is clarifying the yours, mine and ours financial status of the marriage and who is responsible for what financially. Communication, experts add, should also center around how to handle money so there are no major power plays happening. It’s best when both partners are team players and have the same financial goals in mind.

Which brings up another issue — how each spouse feels about money and assets. Is one spouse a saver, while the other is a spender? It might be best to clarify these types of parameters before they can cause a rift.

Partners — especially those with many assets — owe each other honest conversations about things that could cause problems. There are times, however, when some California couples can’t get past the more pressing issues in their marriages — like finances, among other things, and they get to the point where the decision has been made to divorce. When it reaches this point, both people would be wise to seek independent legal advice from a lawyer experienced in family law. It is best to have advice and guidance to better navigate the often complex divorce process.

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