COVID-19 Notice: In an abundance of caution and in consideration of our community members at risk, we have temporarily closed the office for in person consultations and meetings. However, we remain open and are readily available for telephonic or video conferences, consultations, and meetings. Furthermore, we continue to have access to the court system and are able to represent you in proceeding on your family law related matters, including those which have arisen as a direct result of the COVID-19 pandemic. You can reach us at the general office number, 312-782-2400. You can also reach any attorney directly via email, or at the general firm address of info@hrkfamilylaw.com. Hurst, Robin & Kay, LLC, wish our clients, colleagues, friends, and community members health and safety during these difficult times.

Financial conduct that can spell trouble for a marriage

How married couples act when it comes to money can impact many things. It could affect how likely a marriage is to last. Money problems are a common divorce cause.

Certain financial behaviors can greatly increase tension within a marriage. This includes:

  • Overspending or underspending People can come into a marriage with very different spending habits. When spouses don’t discuss these differences and fail to take steps to come up with a budget plan that works for both of them, it could result in the spouses alienating one another through spending too much or being too tight-fisted.
  • Hiding financial matters – A person may be tempted to hide money or debt from a spouse. However, such conduct can destroy trust within a marriage. So, it can be important for spouses to stay open and honest with each other when it comes to money.
  • Turning financial matters into power battles – It can create major problems when one spouse tries to use financial matters to assert power or control in the relationship. There can be increased risk of this when there is a great imbalance between the spouses when it comes to knowledge of the couple’s finances. So, keeping things open and honest regarding financial matters could also help with reducing the chances of this problem arising.

It can be important for married couples to keep a close eye out for these problematic behaviors and to take steps to avoid them.

When financial matters or other factors lead to a couple divorcing, there are certain types of financial conduct that could cause real problems during the divorce. This includes things like asset hiding or asset depletion. Such things can endanger a fair division of property. When entering and going through a divorce, it is very important to avoid such conduct, as it could expose one to serious consequences. If a person going through a divorce suspects that his or her spouse may be engaging in such conduct, it can be important for him or her to get guidance on what can be done in response.