Reclaiming your financial freedom after divorce

On Behalf of | May 23, 2024 | Divorce, Invisible Abuse

When you have been trapped in a financially abusive marriage, divorce can be both a glimmer of hope and a source of anxiety. Nonetheless, this could be an opportunity to reclaim your power and become confident in managing your finances independently.

What is financial abuse?

If your spouse used money and financial resources to control, manipulate and exploit you, you might have experienced financial abuse. This abuse could come in several forms, including:

  • Restricting your access to bank accounts
  • Forcibly taking your money
  • Accruing debt in your name
  • Preventing you from working or earning money

Financial abuse is a form of invisible abuse that often goes unnoticed but can have devastating effects on your life. Recognizing these signs is the first step toward seeking help and legal action.

Asset division can help in financial recovery

If you are seeking a divorce from your abusive partner, the division of assets can play a significant role in your financial recovery. New York courts will divide your assets equitably, considering factors such as the marriage duration, your contributions to the marriage and evidence of financial misconduct.

When financial abuse or economic misconduct is proven, the court can award you a greater share of assets. In this case, you have the burden of providing evidence and documentation of the financial abuse. If you can provide proof of financial abuse, it may influence the court’s decision in your favor. The severity of the abuse, the length of time it occurred, and the amount of money involved will influence the asset division.

Spousal support can provide financial stability

If your spouse has been financially abusive, it may impact the amount of spousal support awarded to you. New York law considers financial abuse a form of domestic violence. This gives judges more discretion to award you higher spousal support.

Spousal support, or alimony, can provide financial stability. It can help cover living expenses, child care costs and other necessities for a certain time.

Pursuing compensatory damages and restitution

In addition to the asset division and support orders, you can seek compensatory damages and restitution through civil lawsuits. These remedies aim to financially compensate your losses and hold your spouse accountable for their actions.

Seeking legal guidance

Financial abuse is a form of invisible abuse that can have a long-lasting impact. Legal remedies are available to help you regain financial independence and stability. An experienced divorce attorney can guide you through these complex legal issues, help you understand your rights and advocate for your best interests. Remember, seeking legal help is a brave and empowering step toward a safer and more financially secure future.

At The Law Firm of Poppe & Associates, PLLC, our focus is relentless advocacy for our clients. If you or someone you know is considering divorce, reach out to schedule a consultation at 646-665-3903 or by contacting us online.

Let Me Be Your Brave

Mia Poppe, Esq.

Mia Poppe, Esq.
Managing Partner