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Financial Abuse in Marriages

Posted by Unknown | Mar 05, 2021 | 0 Comments

financial abuse in marriages

Drama Free Divorce can provide expert advice if you have concerns regarding financial abuse in marriages. Our budget-friendly plans are tailor-made for individuals in Missouri and Kansas, Kansas City being among our service areas. Transparent pricing ensures no unexpected costs, and court appearances are minimized while stress levels are decreased by streamlining the process. Our legal team's sensitivity ensures a professional yet caring approach, contact us now if any financial abuse concerns arise in your marriage!

Financial abuse comes in various forms. From controlling finances or withholding money to controlling emotions or forcing others into debt. This article defines financial abuse and provides examples while outlining 10 signs to watch out for in your marriage. We will also address when and why to hire a divorce attorney (like our firm) along with providing action steps for anyone needing help.


What Is Financial Abuse? 

Financial abuse is an underrecognized form of violence against someone's finances that often goes undetected due to being so hard to detect. Financial abuse includes controlling or manipulating a spouse's finances for emotional distress or power imbalance, among many other acts that fall under its purview.


Financial Abuse Examples

Financial abuse takes many forms. Here are some examples that demonstrate this reality:

  • Controlling finances: One partner could control all financial decisions and limit access to funds or financial data for the other partner.
  • Withholding Money: Denying access to essential funds and making her dependent upon the abuser.
  • Debt Accumulation: Accumulated debt that was not approved of by the victim.
  • Sabotaging Employment: Discourage or prevent the victim from working to limit their financial independence.
  • Monitor Spending: As soon as an indebted individual begins spending money for essentials, such as groceries and gas, it should be continuously scrutinized and critiqued by you and others.


Ten Signs of Financial Abuse in Marriage

  1. Total Control: When one partner makes all financial decisions and refuses to share information or account access with anyone else, that partner has total control.
  2. Limitation of Access: An abuser restricts a victim's access to money or provides them with an allowance, making them dependent on them and increasingly dependent on them for survival.
  3. Sabotage of Employment: When someone uses violence against another, the perpetrator often discourages or prevents them from pursuing or working in their desired career path.
  4. Forced Debt: Unknown amounts that accumulate without consent in the name of the victim.
  5. Hidden Assets: In many instances, abusive spouses try to conceal assets, income, or financial details during divorce proceedings.
  6. Financial Threats: Causing them financial fraud through financial threats that will leave them with nothing or report the individual.
  7. Coerced Signatures: Forcing victims to sign financial documents such as contracts or loans without understanding their implications can result in coercion of signatures.
  8. Constant Monitoring: Exhaustive monitoring of victim spending habits - even for basic items.
  9. Isolation: An abuser isolates their victims from family and friends who could provide aid or financial support, forcing them to fend for themselves alone.
  10. Manipulative Gifting: Giving financial or other favors with strings attached that benefit the victim in exchange for something in return.


Steps for Receiving Assistance

It is vitally important that if you spot any of these signs financial abuse could be taking place. Financial abuse has serious repercussions for your health. Consider these steps for seeking assistance:

  • Contact someone whom you trust - family members, friends, or therapists. Express your anxieties.
  •  To better understand your options, it is wise to seek professional guidance regarding your finances.
  • Contacting a hotline for victims of domestic abuse. There are various organizations dedicated to providing support services for survivors of domestic violence.
  • In certain instances, legal action may be necessary in order to defend and uphold your rights. If this occurs for you, take immediate steps such as calling law enforcement and/or filing lawsuits to safeguard them.


Why Hiring A Divorce Attorney Is Beneficial:

Hiring an attorney when facing financial abuse and contemplating divorce can make an immense difference in your situation. Here's why:

  • Legal expertise: Divorce attorneys have the skills and training needed to navigate the intricate laws surrounding separation and divorce, helping ensure you receive a fair agreement.
  • Support emotionally: Divorce lawyers provide their clients with emotional assistance during what can be a challenging period.
  • Protection: An attorney can protect your financial interests during divorce proceedings and ensure no further abuse takes place.


Why Consult an Attorney

Knowing when it is essential to consult with an attorney can be confusing and daunting, so be sure to reach out if any of the following apply:

  • Do you suspect financial fraud? If so, what steps have been taken?
  • Are you confused about your rights and financial options
  • Your partner has already hired a lawyer.
  • If you own joint or substantial property, it is vital to stay up-to-date.


Find a good attorney by using these criteria

Finding a qualified attorney is of utmost importance. To do so successfully, consider these criteria:

  • Experience: When seeking legal representation for a divorce case that includes allegations of financial abuse, selecting an experienced lawyer is extremely important.
  • Reputation: To gain a clear picture of an attorney's reputation, read online reviews and seek referrals from others.
  • Communication: Select an attorney who will keep you updated regularly on the status of your case.
  • Empathy: A skilled attorney should understand your circumstances and prioritize your well-being.
  • Affordability: Make sure that the fees are reasonable, and understand their billing structure fully.


Why Choose Drama-Free Divorce:

Drama-Free Divorce understands the unique challenges associated with a divorce from relationships where financial abuse has taken place. Here are a few reasons why our firm should be your first choice:

  • Experience: Our team has experience handling financial abuse cases and protecting your rights.
  • Compassion: At our firm, each case is handled with kindness and empathy to provide you with the support needed during this difficult period.
  • Transparency: At our firm, our fee structure is transparent so you always know what to expect at every stage.
  • Proven Results: Our clients have received fair settlements in the past.


Suggestions for Action

  • Speak Out: If you suspect someone of misusing your finances, speak up immediately by speaking to a member of your family or trusted friend.
  • Consult a Professional: In order to better understand your options, consult with an attorney or financial adviser.
  • Document Everything: Keep track of financial transactions, conversations, and abusive behaviors.
  • Safety First: If you are worried about your personal safety, reach out to local law enforcement or an abuse hotline immediately.
  • Consider Therapy Or Counseling: You need emotional support in order to cope.

Your financial well-being and safety are your responsibility and right, so understanding your options and seeking professional assistance are the starting points to a better future. Contact us today at 816 615-5555 or send us an email on our Contact Page.

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