Debts can cause problems for couples

It's not uncommon for couples to go through turmoil because of money. According to a study conducted by Fidelity, more than 50 percent of couples begin their relationships with some level of debt and 40 percent said the debt negatively impacted the relationship at some point. Married people in Florida experience stress because of their debts and many come to consider divorce because of financial and other factors.

Couples are not likely to pinpoint money as the root cause of the divorce, even though it can be in many cases. If the parties involved can't be honest with one another about money, neither of them will know how to manage expenses or live within the couples' means. Often, the debt figures are larger than the couple thinks. The Federal Reserve has reported that people in the U.S. underestimate their credit card debt by 37 percent and their student loan debt by 25 percent.

Preexisting debts and debts that develop during the course of a marriage can doom the couple, especially if they can't communicate honestly. In some cases, the debt may arise as an effort to save the relationship. The couple might think things would be better with a new kitchen or a new car, for example. Debts can lead to problems in the relationship, and problems in the relationship can lead to debts.

People in Florida who are approaching or considering divorce might want to speak with a lawyer. A lawyer with experience in family law might be able to help by identifying and categorizing the couples' assets as marital or separate property. A lawyer may draft and file a petition to begin the divorce case or attempt to negotiate property settlement with the other spouse. In cases where child custody is an issue, the lawyer might argue on the client's behalf during custody proceedings.

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Rachel Rall, Attorney at Law, P.A.
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