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Financial infidelity can complicate a gray divorce

On Behalf of | Jun 6, 2023 | Blog, Divorce

Going through the dissolution of your marriage in your gray years can be a very challenging trial. The stability of your physical and financial health may well be in question. You may find yourself dealing with serious trust issues that continue to affect your life even after you have officially ended your marriage in Texas.

How financial infidelity can affect you

Financial infidelity can affect the process of your divorce in many ways. You may suddenly find yourself with a great deal less financial support than you thought you had. This can come about as the result of discovering that your former spouse has raided the marital bank account.

You may find that you are deep in debt due to bills, investments and other financial obligations that you have not properly dealt with. The trust issues that arise from such incidents can put a serious strain on your relationship. They may also expose you to serious hardships caused by your damaged credit.

People who undergo a gray divorce may be most likely to report bitterness and anger due to the shorter amount of time they have to recover. For example, someone who divorces at 60 has much less time than a 30-year-old to work on repairing their financial stability. This can lead to a serious decline in the quality of their life.

How you can prevent financial infidelity

Splitting your assets during a divorce is complex enough without having to deal with financial infidelity. You can limit the potential temptation to engage in such deceit by mutually agreeing to carefully monitor all of your bank accounts, especially those you hold in common. Keep a close eye on all transactions that occur.

Both spouses should cooperate to keep their credit reports up to date. This will give you a clearer idea of what type of financial activities both of you are engaging in. You should also take every measure to monitor and control the amount of spending each spouse engages in. This may help to safeguard your finances and peace of mind.


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