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Posted on in Divorce

Kane County divorce attorneyFinancial infidelity can be devastating to a marriage. When a spouse lies about financial decisions or makes big decisions without consulting the other it not only takes an emotional toll but can also lead to serious financial hardship for the family in the future. A recent study released by the National Endowment for Financial Education showed that 31% of Americans have lied about money to their spouse, and financial concerns are among the leading causes for divorce around the country.

What Does Financial Infidelity Look Like?

Financial Infidelity can take many forms. If your spouse is being deceitful about money, you may notice that:

Posted on in Divorce

hiding assets, division of property, Geneva Family Law AttorneyIt is an unfortunate reality of modern life that spouses often find it difficult to be completely honest with each other, particularly in matters pertaining to money. For some couples, it may be motivated by fear of embarrassment, as one spouse may not be especially proud of decisions that he or she has made. For others, however, the motivation may be more selfish, as a spouse insists on keeping a portion of his or her assets hidden from the other partner, so as to retain them for his or her own personal benefit.

Hiding assets during a marriage is seen by many as a form of infidelity, which can have a detrimental impact to the marital relationship. When such actions or intentions are discovered, the trust level between partners may be severely damaged, often leading to divorce. Continuing to hide assets during divorce, however, can be even more serious, as doing so constitutes a violation of the law.

Common Methods of Hiding Assets

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