Even under ideal circumstances, many married couples argue over finances. Serious disagreements, though, may be disastrous for any marriage. In fact, roughly 40% of divorced individuals between the ages of 41 and 56 primarily blame their divorces on financial conflict.
Often, financial disputes occur because one spouse is not honest about money matters. If you suspect your spouse may be lying about marital finances, you may need to exercise additional caution during your divorce.
Signs of financial dishonesty
Identifying financial dishonesty is not always a simple task, especially if your spouse is good at hiding money issues from you. Still, if your spouse has any of the following, there may be money-related deceit in your marriage:
- Different values about money and debt
- An addiction to alcohol, drugs or gambling
- Friends or business associates who need money
- An extramarital affair
Your divorce strategy
Even if you and your spouse regularly fight over money, you are not necessarily heading for divorce court. After all, counseling and communication may help to put an end to financial dishonesty. If you end up calling it quits, however, you need a financial strategy for your divorce
Spouses who have a history of being dishonest about money may try to hide assets before or during divorce proceedings. While pretrial discovery may help you find missing wealth, you may also want to work with a forensic accountant or another financial professional.
Ultimately, your spouse should be honest about money during both your marriage and your divorce. Showing your husband or wife you intend to shine a light on financial deception may boost your chances of receiving an equal share of the marital estate.