Financial abuse can make it difficult to leave an unsafe or unhappy marriage. When one spouse controls the household finances, restricts access to bank accounts, hides assets or creates debt in the other spouse’s name, it can cause more than financial stress. The affected spouse can feel trapped, dependent and uncertain how they will be able to survive after a divorce.
Understanding how financial abuse can affect divorce is an important step toward financial independence. The controlling spouse’s behavior may affect property division, spousal support, financial disclosures and other issues the court must resolve.
What is financial abuse?
Financial abuse occurs when one spouse uses money, assets, debt or access to financial resources to control the other spouse. It may happen alongside physical or emotional abuse, but it can also occur on its own.
Financial control can complicate divorce because a spouse may have limited access to financial records, little money for legal representation and an incomplete understanding of the couple’s assets and debts.
New Hampshire divides marital assets equitably between spouses in a divorce. If your spouse has hidden money, transferred assets, concealed investments or deliberately withheld financial information, these actions may be important evidence during the divorce. While financial abuse doesn’t automatically entitle a spouse to a larger share of marital property, courts may consider relevant financial misconduct when determining an equitable property division.
Financial abuse can affect a spouse’s ability to become financially independent after divorce. Someone prevented from working, building savings or developing a career may face significant challenges when establishing a separate household. When awarding alimony, courts consider factors such as the parties’ financial circumstances, income, earning capacity, needs and other relevant considerations.
Divorce proceedings require financial transparency. However, financial abuse can make the process harder when one spouse controls the accounts, handles all tax filings or refuses to share financial information. Formal discovery procedures can help you obtain relevant records such as bank statements, tax returns, retirement account statements and loan documents. If one party knowingly makes a false statement in a financial affidavit, the other party may bring a civil action for damages.
If you are experiencing financial abuse, don’t assume you must remain in the marriage simply because you can’t immediately support yourself. A legal representative can explain the options available for seeking financial relief during divorce proceedings.
