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Your Thieving Spouse-Divorce and Money

On Behalf of | Mar 15, 2020 | Divorce And Money

Sexual infidelity is not the only thing that destroys marriages. Your spouse can be unfaithful when it comes to household finances as well. Divorce and Money are front and center concerns.

When your wife or husband spends large sums of money on activities or persons outside of the marriage, that is called “Dissipation of Marital Assets”.

Not only can your spouse be wasting money you both earned during the marriage on another man or woman, he or she could be making huge, unreasonable contributions to charites, fancy sportscars or musical instruments, for example.

He or she could also be racking up Tens of Thousands of debt on credit cards without your knowledge especially since, in this computer age, they don’t have to leave a paper trail. With a simple push of a button, they can spend thousands of dollars without your knowledge.

For all you know, you spouse could quit his or her job and transfer funds from your joint investment accounts to pay pal accounts for travel.

How can you find out if this is happening? 

Make a point of checking any joint bank and investment accounts online. Look for large transfers. Pull up your joint credit card statements. If you have individual credit card and bank accounts, pay attention to how much your spouse is spending. Pay attention to how many shopping bags are coming home.

Keep in mind that in Illinois, everything acquired during a marriage with a few exeptions like inheritances or gifts is marital property and all debt incurred during a marriage is marital no matter whose name the property or debt is in.

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If serious financial infidelity is going on and your spouse is hemorrhaging your income and property, consult an attorney. Take action before nothing is left. Divorce and Money are huge concerns. Courts can issue injunctions to stop unnecessary spending. We at Gabrielle S. Davis, PC. with offices in Oak Park and Oak Brook, Illinois, would be happy to consult with you on how to best protect yourself.

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