the law offices of george castrataro, P.A.Serving South Florida And Fort Lauderdale, Since 2008
Call Us for Your Free Initial Consultation
954-573-2003 Se Habla Espa├▒ol
We Are There For You

How financial issues lead to divorce

For many couples in Florida, issues about money could lead to marital problems. There are several common financial issues that crop up regularly that may result in divorce. For example, poor communication about money is a problem in many relationships. Usually, this only tends to work out when one person trusts his or her spouse to manage the money, although this can cause problems if the money manager dies.

A lack of savings can also lead to marital strife because it generally means that there will be financial strain in the marriage. A good rule is to have at least three months' worth of expenses saved up. One way to save money is by having the bank deduct a small percentage out of each paycheck.

Some couples hide money from one another, and this can create a sense of betrayal. In some cases, couples may have different values regarding money. Often, one person is a spender, and the other individual is a saver. Couples might be able to work this out if they communicate well about what important things should be saved for and what can be used for fun. If both people are spenders, this could cause problems because even individuals with high incomes could find themselves struggling to make ends meet. This, in turn, might put a strain on the relationship.

People who are considering divorce may want to talk to an attorney about how their finances could be affected and what they can and cannot do while in the midst of the process. For example, if one person is a saver and is concerned that his or her spouse will spend irresponsibly during the divorce, he or she is not permitted to cancel joint accounts unilaterally or take all the money out of the account for safekeeping. However, if the other spouse goes on a spending spree, this could have implications for asset division.

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

  • Peer Review Rated | LexisNexis | Martindale-Hubbell
  • Super lawyers | Rising Stars 2013
  • Super lawyers | Rising Stars 2014
  • Super lawyers | Rising Stars 2015
  • Super lawyers | Rising Stars 2016
  • AVVO