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Common Money Factors in Texas Divorces

You and your spouse have a unique relationship that is unlike any other couple’s in Texas or beyond. You may find, however, that you share certain things in common with other spouses-namely either a spoken or unspoken arrangement regarding money. For instance, perhaps you and your spouse have an agreement that you don’t spend money without telling each other.

But what happens if your spouse breaks the agreement? In fact, what happens if you find out that your spouse has been financially dishonest in more ways than one? Many marriages have ended in divorce because of financial secrets kept in marriage. Knowing what types of secrecy can adversely affect a marriage might help you restore your relationship. On the other hand, if you’ve already decided that divorce is the most viable option, it’s also good to research state laws and to know where to seek support if a problem regarding finances arises in your divorce.

Additional bank account

Perhaps you and your spouse put all the money you both had when you married into joint bank accounts. This is the most common form of banking for married couples. What is not as common is when a spouse opens an additional bank account, a separate, non-joint account. Even that might not be so out of the ordinary, as long as the other spouse is aware of the account. Financial secrecy often involves hidden bank accounts.

Dishonesty regarding employment

Were you shocked to learn that your spouse had been unemployed for some time because you were under the impression that he or she was leaving the house and going to work every day? It wouldn’t be the first time a spouse concealed the fact that he or she lost a job. That doesn’t make it any less hurtful in your situation, however.

More money than you think

On the flip side of losing a job and not telling you, if your spouse hides money by not informing you that he or she got a raise or bonus at work, it is understandable that you’d feel betrayed and upset. Especially if you both agreed to pool all your finances together when you got married, it can feel like a theft if your spouse hides money that he or she doesn’t want to share with you.

When this happens in divorce

Getting divorced doesn’t always put an immediate end to financial secrecy between spouses because many spouses try to hide assets to keep them from being subject to property division. This behavior is illegal and there are definite steps you can take to rectify such problems.