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2015 Spring Road, Oak Brook, IL 60523

Top Chicago Area Divorce Lawyers
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Oak Brook divorce attorney dissipation of assets

It is no secret that money is the source of countless marital arguments. Many married couples fight about finances because one of the spouses made purchases or accumulated debt without the other spouse’s knowledge. Spouses may also hide assets or income from the other spouse. If you and your spouse are considering divorce, and there has been a history of financial deception in your marriage, you should be aware of the ways that this may impact your divorce.

Almost Half of All Married Couples Admit to Hiding Debt

Most people would agree that honesty is a critical component of a healthy marriage. However, a surprising number of married spouses have admitted to being dishonest when it comes to money. Approximately 41 percent of adults admit to hiding bank accounts, spending habits, or debts from their partners. This so-called “financial infidelity” or deceitful behavior can lead to dramatic consequences, including the end of the marriage entirely.

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Oak Brook divorce attorney hidden assets

When we hear the word “addiction,” most of us assume the addiction is a substance abuse problem. However, many people suffer from addictions that are not related to drugs and alcohol in any way. A shopping addiction, also called compulsive shopping or compulsive buying, can be a major problem that has significant implications on a person’s life as well as the lives of family members. If your spouse is a compulsive shopper or simply spends too much money on unneeded items, you may have concerns about how this excessive spending will influence your divorce.

Protecting Your Financial Future

Most individuals with a shopping addiction are not simply greedy or consumeristic. Many use shopping as a means of coping with low self-esteem, depression, anxiety, or other personal struggles. Although their excessive spending may not be malicious, it can have devastating effects on a couple’s finances. If you are planning to divorce your spouse and he or she has a problem with overspending, there are several steps that may help you protect your financial future:

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Botti Marinaccio, LTD.

630-575-8585

2015 Spring Road, Oak Brook, IL 60523

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