When individuals in Texas are dishonest with their spouses about how they spend their money, they are committing financial infidelity. This type of infidelity is described as the purposeful and secretive act of incurring debt against the other spouse’s wishes. Sometimes this is accomplished by borrowing money, holding secret stashes of cash or accounts or spending money lavishly. Here are a few signs of financial infidelity and how to protect against them in a divorce.
Financial infidelity red flags and solutions
A major warning sign of financial infidelity is when a spouse suddenly becomes uncharacteristically generous or stingy. Other warning signs include secret spending and shopping, or using cash only. A spouse may also be committing financial infidelity by secretly changing where a statement or bill is mailed to keep the other party from accessing it.
A divorcing individual can protect against financial infidelity’s devastating consequences by monitoring every joint account closely. This includes monitoring account transfers, transactions and even online passwords. It makes good sense to obtain copies of monthly statements dating back a year, or a few years, as well as to review a recent credit report for signs of dishonesty.
An attorney can help
Navigating the financial aspect of divorce can understandably be complicated, but a divorce attorney in Texas can help a divorcing individual to seek a fair and comprehensive settlement with the other party. Of course, not every divorce is settled easily. In this situation, the family law attorney will be prepared to litigate matters that could not be resolved outside of court, such as property division and spousal support. Either way, the attorney will strive to protect the client’s rights and best interests.