As a victim of financial abuse, it can be scary to think of getting a divorce. You may wonder how to support yourself and your children if you leave your marriage.
When you do not have any control or knowledge of your finances, it feels that you have no option but to stay with your spouse. Unfortunately, this kind of abuse is not uncommon.
What is financial abuse?
When one spouse controls the finances to manipulate, threaten, or dominate the other partner, this is a form of domestic abuse. The person attempts to gain power by handling every aspect of the marital assets, financial resources, income and debts. This situation looks different for each couple but can have devastating consequences for the victim.
How does financial abuse affect your divorce?
When your spouse does not give you access to money, prevents you from working and keeps financial information and resources hidden, you can feel trapped. It presents significant challenges, such as access to payment for a lawyer or a place to live. You may not know the scope of your assets, liabilities or bank accounts to ensure an equitable division of marital property.
Do you have options to ensure you have money to move forward?
Fortunately, you have protection under the law to help you go through a divorce process:
- Gain access to joint accounts and income information with a court order
- Apply for temporary child and spousal support for living expenses
- Hire a forensic accountant to discover hidden assets and find discrepancies in asset and debt disclosure statements
When you do not have any control over your finances, you face many additional challenges in your divorce. Legal knowledge and experience are vital to protecting your financial well-being and securing a fair settlement.