Common Financial Issues are the biggest concerns in Marriage and can lead to Divorce

The best marriages are the ones where both partners are aware of all the financial issues of their marriage. Each partner takes an interest and often the monitoring of finances is shared between the two. Financial issues are often the biggest concern of marriages. One of the best things couples can do at the beginning of their marriage is to be open with each other. Both should be aware of and understand what money is coming in and what money is going out and who will be in charge. In the past one spouse might have had the majority of the responsibility for finances but that type of arrangement rarely happens now. Both spouses have careers, both are contributors to the finances, and shared expenses is common.

No longer “What’s Yours is Mine and Mine Yours”

Unfortunately, even the best marriages may come to an end. With divorce two shared incomes become individual incomes and require equal distribution. Other marriage issues that were previously shared, now become individual as well…custody of children, distribution of houses and property, insurance and more, are usually divided. Savings and/or checking accounts that were joint need to be changed to individual. Eventually, spouses need to prepare to get their own health insurance if they are currently on the other spouses insurance. They can stay on it until after the divorce, but then will need to get their own. Taxes may also be an issue especially if you have always filed jointly. A good tax preparer who understands what you want is important.

Mediate to Cooperate

Mediation will keep the discussion positive and help you see the issues from a different perspective. Through mediation, everyone involved will benefit, not just one person. A competent mediator can lead you through a successful and peaceful end to your marriage, or by helping you work out your issues, mediation can keep you together. Whatever the decision, mediation will help you and your spouse avoid costly court cases and achieve a peaceful divorce process that satisfies both partners and their families.

About A Fair Way Mediation

A Fair Way Mediation Center offers a relaxed, compassionate atmosphere in an informal setting that encourages a calm and objective approach. This is a safe space that avoids the stress and embarrassment that courtroom procedures can inject into any divorce or separation. All couples are welcome, including traditional or same sex families.