Margaret Gettle Washburn, P.C.
(770) 676-1191
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Financial infidelity: what it is, what it can mean in a divorce

There is an old saying that "money can't buy happiness." While that may certainly be true, money can be the cause of significant unhappiness, particularly when it comes to marriage. Money -- whether people don't have enough or they have dramatically different spending habits -- is a very common source of contention between spouses. In fact, many people cite financial problems as a top reason for divorce.

One particularly disconcerting money issue that couples across Georgia may be dealing with is financial infidelity. As described in this article, financial infidelity is the act of concealing or misrepresenting information about money in an effort to hide savings or spending from a spouse. It is reportedly a top predictor of divorce and it can be a behavior that could also impact the divorce process.

A spouse who keeps certain bank accounts secret or spends large sums of money without sharing that information with their partner may be doing so out of fear, distrust, frustration or selfishness. All of these can be indications that a marriage is unstable and that two people are not on the same page, so it is not surprising that claims of financial infidelity often arise in divorces.

If this is something that was an issue during your marriage, it could very well be an issue during divorce. A spouse who hid money or engaged in out-of-control spending may be tempted to do the same thing during a divorce when marital assets are being calculated and divided.

It is crucial for both parties to be open and honest with the disclosure of assets and debts during the divorce process. Failure to do so will have serious consequences, financial and otherwise. 

Because of how big of a role money plays in a divorce, it can be essential for divorcing spouses to have an attorney by their side during discussions of property division, child support and alimony. Failure to have legal representation can lead to critical oversights and poor decisions that have serious and long-term repercussions.

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Margaret Gettle Washburn, P.C.
4799 Sugarloaf Pkwy
Building J
Lawrenceville, GA 30044

Phone: 770-676-1191
Fax: 770-963-2828
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