When we think of infidelity it is typically, one spouse having a relationship outside the marriage. There is another form of infidelity that is just as damaging if not more damaging, financial infidelity. In this situation one has not only the emotional trauma of being deceived and “cheated on” but there may also be damage to ones credit, savings, retirement plans in addition to the emotional pain. That may cause a change in lifestyle and may take years to repair. A relationship outside of the marriage is difficult to overcome but this may prove to be even more challenging.
Financial Infidelity can include:
- Gambling or other vice
- Not paying taxes
- Taking out credit the other party is not aware of in their name
- Applying for social security and hiding the payments
- Secret bank accounts
Once the deceit has been discovered it is critical that the couple seek professional help to assist them with planning how to unwind this situation. A professional that has worked with the IRS, a financial professional, a therapist and an attorney may all be necessary to get the couple to a place where they can achieve an equitable divorce.