On behalf of Mohajer Law Firm, APC on Thursday, October 25, 2018.
You have probably heard that money issues sit at the root of a lot of divorce cases. However, maybe you think the issue is always a lack of money and financial assets. A man with an addiction problem leaves his family with nothing. A woman who is a sole breadwinner and loses her job finds her family breaking up under the stress. A couple that can’t make ends meet has to end their marriage.
These things do happen, but does that mean that wealth insulates you from divorce? Not at all. Even wealthy couples can face marital breakdown because of money-related conflicts, which is why speaking with a high net worth divorce attorney in Arcadia can be so important when substantial assets are involved.
You look at money differently
You are wealthy now, but you did not have much growing up. As a result, you love to save your money. You know how valuable it is and how hard you worked for it.
Your spouse, however, has always had more than enough. They just like to spend, assuming there will always be more.
This difference in financial perspective can create serious marital tension. Your spouse may feel that you are too controlling, while you may believe they are wasting the wealth you worked hard to build. In situations like these, guidance from an asset protection attorney in Arcadia may help you better understand how to safeguard important financial interests.
You keep financial secrets
Marriages are built on trust and communication. Keeping secrets about anything is problematic. However, money is one of the things most often at the heart of these secrets.
Maybe you do not want to tell your spouse about your spending because you know they wouldn’t approve. Maybe you’re keeping secret accounts in case you ever need them. Secrets can put a rift between you and your spouse and can lead to divorce when they finally come to light.
Your levels of control are not the same
Your spouse takes care of your finances. At first, you enjoyed it. You don’t like paying bills anyway. As the marriage went on, though, you started to realize that your spouse was controlling you. In time, it becomes impossible for you to make your own financial decisions.
This type of controlling attitude may even constitute financial abuse. It is not healthy. It can make you feel trapped in the relationship. Adults need to be equal in a marriage, and when this type of financial inequality becomes clear, it may lead to divorce.
Your rights
These are just three examples, but they clearly show that wealth does not protect a marriage from divorce. If you and your spouse are heading toward separation, make sure you understand your rights and responsibilities before making major financial decisions. Working with a knowledgeable family law attorney in Arcadia can help you move forward with greater clarity and protection.