Spouses decide to file for divorce for many different personal reasons. Some people slowly grow apart over the years. Others divorce because of misconduct. If one spouse has taken actions that harm the family, the other may not feel comfortable continuing the marital relationship.
Adultery and domestic violence are both examples of behavior that could lead to divorce. Financial issues are another common reason that people decide to divorce. Specifically, one spouse may decide to file for divorce after uncovering alarming warning signs of financial infidelity. People who understand what constitutes financial infidelity can identify when taking action might be necessary for their protection.
What is financial infidelity?
There is an expectation that spouses should be honest with one another and that they should share their resources. If one spouse falls ill or loses their job, the other may pick up the slack temporarily until circumstances improve. Marriage makes people potentially accountable for a spouse’s financial obligations and their basic needs when they cannot provide for themselves.
Unfortunately, not everyone maintains the honesty and transparency necessary for a healthy and productive marital relationship. It is somewhat common for one spouse to lie to the other about either their resources or their financial obligations.
Financial infidelity might involve hiding assets. One spouse may divert a portion of their paycheck to a private account every week, thereby convincing the other that their income is lower than it actually is. They may acquire various valuable assets without informing the other spouse.
Financial infidelity can also involve hiding obligations. Some people bring massive credit card debts into a marriage. Others slowly accrue debt due to their personal habits. Substance abuse and compulsive shopping can both result in substantial debt. That debt could constitute financial infidelity if the spouse spending the money lies about their habits and hides financial statements.
Why does financial infidelity cause divorce?
Sharing a life and a home requires trust and respect. Financial infidelity undermines both of those key elements of a healthy marriage. The spouse who has discovered thousands of dollars of undisclosed debts or hidden assets may realize that they cannot trust their spouse anymore.
They may also become aware that their spouse does not respect them as they should. Given that the debts taken on by one spouse in secret could cause major hardship for the family later, the discovery of financial infidelity can leave one spouse eager to sever their ties with the other.
Pending divorces involving financial infidelity can be relatively complex. People may need to go over their household financial records very carefully with a skilled legal team to better ensure a fair division of property, hold one spouse accountable for hiding assets or exclude hidden debts from the property division process. Recognizing financial infidelity can be the first step toward demanding accountability and moving on from an unhealthy relationship.