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Financial infidelity in New Jersey

by | Nov 11, 2015 | Divorce |

According to a study conducted by a Kansas State University researcher, if a couple argues about money early in their marriage, they are more likely to get divorced than their counterparts. This is in line with the fact that financial arguments are one of the leading causes of divorce.

Financial infidelity takes place when a spouse hides spending or assets from their partner. In some cases, this is in the form of opening bank accounts or taking out credit cards and never telling the other spouse. Inn other instances, this involves spending money but hiding the fact. People will sometimes go so far as to destroy receipts for purchases or hide from their spouse things they have bought.

Attempting to avoid an argument is a good thing, but not when people have to go out of their way to hide their actions to do so. If a spouse finds out about their partner’s actions, it will only increase distrust as well as paving the way for fights about money. Couples who are struggling with money matters may want to see a marriage or credit counselor to help them manage their funds and how they discuss them.

Financial issues are also likely to affect divorce proceedings in a variety of ways. Someone that has hidden assets during a marriage may also be liable to try to hide them during the property division stage. This can lead to an unfair result if it isn’t brought to the court’s attention. A divorcing spouse who has these types of concerns may want to discuss them with a family law attorney, who in some cases might recommend obtaining the assistance of a forensic accountant.

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