40% Relative Humidity is your friend
Wood is hygroscopic. It acts like a sponge. When first cut, it is dripping with moisture. As it dries, the free water within the cell bodies is lost first and the moisture content of the wood drops drastically. As it begins to season, it loses bound water from within the cell walls. As they lose moisture, they deform because they require water to maintain structure. The wood shrinks.
Sooner or later it will reach an equilibrium with the environment and will be stable enough to build with. It is that equilibrium, and the equilibrium moisture content of the wood in the guitar, that must be maintained over the instrument's life to avoid warping or splitting.
When an instrument is in a high humidity environment, it's cell walls will begin to pick up moisture. The belly bulges and the action will start to get high. When the instrument is in a very low humidity environment (northeast in winter = VERY VERY low relative humidity) the cell walls lose remaining moisture and continue to shrink. Because the guitar has been glued together, the top cannot shrink. So it splits.
Lesson learned? High humidity can be a nuisance. Low humidity can destroy the instrument.
What to do? Pretty easy, really. You maintain the environment around the guitar in a stable, 30% - 50% relative humidity range and avoid radical drops in humidity. You can do that with guitar humidifiers, but the best way is to keep a room humidifier in the same room the guitar lives in. Keep the instruments in open cases or hang them on a wall during really cold spells, and get a cheap hygrometer to keep you informed ablut the humidity. Generally, if the room is comfortable for you, it will be fine for your guitar.
Clive's observations about sharp fret ends is right on the money - the fingerboard is not sealed and can take on and lose humidity pretty easily. It's the first sign that things are getting dry.