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Financial infidelity and divorce

Many California couples have found that finances contribute to problems within their marriage. In fact, there is some evidence that money can be a major reason why couples end up getting divorced.

Some marriage experts have coined a new term, "financial infidelity," which describes situations where one or both spouses conceal spending, debt and even earnings. These couples may never even think about having an affair, but they are perfectly willing to hide credit cards, bank accounts and other assets from each other. Spouses may also failed to disclose debt that they have racked up. As a result, the innocent spouse may be in for a nasty surprise when the couple tries to refinance a home or the spouse is sued by a creditor.

The emotions that financial infidelity can trigger in a marriage are often severe. Not only has the trust between spouses been breached, but the spouses may find themselves in a financial predicament that could take years to untangle. Even if the couple attempts to forgive and forget the secret debts and accounts, the spouses may still have to spend the next several years paying off debt and dealing with creditors. This can take a toll on the marriage regardless of their attempts to put this behind them.

In situations where financial infidelity does bring about the end of a marriage, a person may benefit from speaking with an experienced family law attorney who in many cases may be able to review financial records in an attempt to get a full understanding of how assets were spent during the marriage. During the divorce process, the attorney may be able to make recommendations regarding division of any remaining assets as well as marital debt. Receiving professional advice may be a crucial step in emotional and financial recovery from financial dishonesty.

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