Economic abuse is a form of domestic violence that often goes unnoticed. It occurs when one partner controls the other’s finances in a way that limits their independence and power. In the context of divorce, economic abuse can significantly affect how assets are divided and what settlements are made.
What is economic abuse?
Economic abuse involves behaviors that control or restrict a person’s access to financial resources. This can include limiting access to bank accounts, restricting employment opportunities, or forcing the victim to account for every penny spent. The goal is to create financial dependency, making it harder for the abused spouse to leave the relationship or manage their own finances.
How does economic abuse impact asset division?
During a divorce, the court aims to divide marital assets fairly. However, when economic abuse is present, it can complicate this process. One partner may have controlled finances in a way that made it difficult for the other to accumulate assets or income. This can lead to an unfair division of property if the abused spouse was not allowed the same opportunities to earn or save.
Legal considerations for victims of economic abuse
In divorce cases involving economic abuse, courts may take the abuse into account when determining how assets are divided. The judge may award a larger share of the marital assets to the abused spouse to compensate for financial hardship caused by the abuse. Additionally, evidence of economic abuse can influence decisions about alimony or spousal support.
How to protect yourself from economic abuse in divorce
Victims of economic abuse should gather all available financial documents before filing for divorce. This includes tax returns, pay stubs, and account statements. Working with a lawyer experienced in domestic violence and divorce can help ensure that the financial abuse is addressed during asset division. Legal professionals can help victims fight for their rights and pursue a fair settlement.
