Family Law Blog

Colorado Attorneys - Kaplan Law, LLC

Financial Infidelity a Major Cause of Divorce

By Kaplan Law on May 7, 2010

According to a 2005 Redbook survey discussed in a fredericknewspost.com article, nearly one-third of adults in a committed relationship admitted to being dishonest to their partner about their spending habits. Women are more likely than men to be dishonest about finances. Some common examples of “financial infidelity” include secret purchases, money stashed away without the knowledge of one of the partners, and debt that only one partner knows about.

Although financial problems are a leading cause of divorce throughout the nation, many couples avoid discussions about finances, which can lead to financial infidelity. Financial infidelity can be a sign that the relationship is not open and honest. In addition, many spouses have difficulty turning over control and security, which money represents, to their partners. If two partners have very different opinions on money and how it should be spent, it’s still possible for couples to work together on finances, but they must have very open and honest communication about money.

Once financial infidelity occurs, it’s important to bring it to light immediately so the wronged spouse can forgive. In addition, using a neutral third party, such as a financial advisor or another couple, can help to prevent money secrets from occurring in the future. In addition, working on a future financial plan together can help rebuild the relationship.

Sometimes when financial infidelity occurs, divorce becomes inevitable. In that case, you should retain the services of a highly skilled Colorado divorce attorney. If you are considering filing for divorce in Colorado, contact the knowledgeable Denver family lawyers at Kaplan Law, LLC by calling (303) 458-5500. Our team is highly trained and experienced in the area of Colorado divorce law. We can help.