How serious is hiding money from a spouse?
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How serious is hiding money from a spouse?

On Behalf of | Oct 28, 2020 | Firm News |

A person might try to find a way to prevent a spouse from finding out about a purchase if that purchase was made to buy a surprise gift or trip for the spouse. A person may also try and find a way to prevent a spouse from learning about other financial transactions for reasons not so positive.

When it comes to money, it is not only the actions taken by a spouse but the intent and reason for those actions that may determine the difference between an acceptable act and a harmful one.

Understanding financial infidelity

Hiding money or other information related to financial matters from a spouse may cause serious problems not only in the marriage but also for the spouse who remains unaware of things. These behaviors may be more common than some people think. indicates as many as 15 million people in the U.S. are hiding some money matters from their partners.

Hiding assets

One form of financial infidelity involves a spouse essentially hiding assets. This may be done by moving money from joint accounts into another account only one spouse knows of. One spouse may also receive money that he or she fails to disclose to the other party, keeping it all for himself or herself.

Hiding debts

Another form of financial infidelity happens when one spouse amasses debt that the other spouse does not know about but may be liable for.

This information is not intended to provide legal advice but is instead meant to give residents in Mississippi an overview of what may be deemed financial infidelity and how that may impact the unknowing spouse.