If Your Spouse Is Being Dishonest About Money, Talk to a Lawyer Long Before You Decide to Divorce
June 21, 2020
It hurts when you find out your spouse has been lying to you, but it is even worse when you find out that your spouse has lost money that you spent years earning, especially if years went by before you found out how badly your spouse’s behavior affected your financial situation. Whether your spouse spent the money on luxury items, invested in a pyramid scheme, got carried away day trading on the stock market, or quit her job without your knowledge, financial infidelity makes it even harder to rebuild trust in your marriage or, if you decide to divorce, to rebuild your financial stability. The closer you are to retirement age, the more devastating financial infidelity is; if you are in your 30s when you find out that your spouse squandered your nest egg, you at least have decades ahead of you to rebuild your savings. Whether or not you decide to divorce, you should consult the family law attorneys at Iwanyshyn & Associates in Greater Pittsburgh about how to move on financially after your spouse loses a large amount of money and lies to you about it.
Signs of Financial Infidelity
Some people are very skilled and meticulous about hiding money and financial dealings from their spouses. Even if your spouse has bank accounts you don’t know about and doesn’t have the statements from those accounts delivered to your house, these are some warning signs that your spouse has gotten you into financial trouble that he or she has not told you about:
Mail from the IRS about tax obligations you didn’t know about
Calls from collection agencies when, as far as you know, you have been keeping up with payments on all your debts and bills
Your spouse refuses to tell you how much certain expensive purchases cost or where he or she paid for them
If you find out about one big lie about money, there might be more, especially if your spouse has an addiction to gambling or shopping.
How Financial Infidelity Affects Your Divorce
If your spouse intentionally misled you about your financial situation as a family, the court might consider this financial misconduct and order a division of property that is more favorable to you and less favorable to your spouse. An even more obvious case of marital misconduct is if your spouse deliberately wastes money or titles his separate assets in someone else’s name (such as the name of his mother, his brother, or a business of which he is a partial owner) after he finds out that you want a divorce.
Can Your Marriage Be Saved?
You might not want to divorce if you find out that your spouse has been telling you big lies about your finances, but the financial infidelity will have long-term consequences. You should talk to a family law attorney about postnuptial agreements and other ways to protect yourself from your spouse’s irresponsible financial behavior, even if you are determined to stay together.
Iwanyshyn & Associates Helps Families Move on from Financial Infidelity
A family law attorney can help you mitigate the damage that your spouse’s financial dishonesty causes to you. Contact Iwanyshyn & Associates in Greater Pittsburgh & Western PA about your spouse’s financial infidelity. 🡺 412-419-3448