Financial infidelity can lead to divorce

On Behalf of | Apr 15, 2015 | Family Law

When you get married, you and your spouse combine your lives together. What this looks like is dependent on the couple, but many end up blending families, friendships and finances. All too often though, it’s this last one — the finances — that end up leading to trouble in the marriage.

A recent Business Insider article looked at some of the top money lies that can ruin a marriage. In this, the author points to the fact that a 2014 poll found that out of 2,000 adults, one third had lied to their partners about finances. Another third also reported being the one who was deceived. This is alarming, as the majority of those who were lied to said it negatively affected their relationship, with some even saying the financial infidelities led to divorce.

But just what do these financial infidelities look like?

When it comes to lying about money, the deceptions can really run the gamut. From being dishonest about how much you earn, to a spouse hiding purchases, to even one spouse loaning money to their family without letting their partner know.

For example, let’s say a person is earning extra income, but not telling his or her husband or wife. Why is that? Is the person spending the extra money on something he or she should not be, like drugs or gambling? Or is the money going into a secret bank account? Is this secret bank account intended as a financial padding for the eventual fallout of the marriage?

These are all the types of questions and concerns that stem from financial deception.

In general, both spouses have the right to know what their true financial situation looks like. And if one or both spouses are hiding or lying about money, this could be a serious red flag in the marriage.

If divorce is on the horizon, it is important for the family law attorney to be made aware of these concerns, as this can play a significant role in the divorce proceedings, especially when it comes to property division.