What is financial infidelity?

On Behalf of | Jul 11, 2023 | Divorce

Finances and infidelity are certainly two things that can cause divorce. When one partner is engaged in an extramarital affair, there’s often no way for the couple to repair the relationship after it comes to light. Financial pressures such as the stress of not being able to make ends meet can also end a relationship.

But there’s another issue to consider, which is that of financial infidelity. This is different, but it can still certainly lead to the end of a marriage.

Lying about financial issues

Essentially, financial infidelity is intentionally keeping financial information from a spouse or even lying about those decisions.

For example, perhaps one spouse has been setting money aside in their own private accounts or even putting money in a safe deposit box without telling the other. These are financial assets that they own, so they legally can store them in these locations. But purposely keeping it from their spouse can create problems if that account is discovered – while doing taxes, for example – and their spouse is unhappy that they were unaware.

Major expenditures are also sometimes an issue. For example, maybe someone has a gambling problem and ends up spending all of the family’s savings on this addiction. This can put the family in a precarious financial position, but the other spouse may not even know that it’s happening at the time. They only find out after the damage has been done.

Are you getting divorced? 

If you’re getting divorced because of financial infidelity, it’s probably going to be a fairly complex process. Be sure you know exactly what legal steps to take.

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