How your spending is scrutinised During Divorce
If your Divorce ends up in Court...
Everything you buy will be under the spotlight.
Plus everything you have bought for the last 12 months.
Are there things you don't want your ex...
or his/her legal team to know about?
Some people find this extremely irritating...
They are furious that their ex and his/her advisors can go through their spending and question everything.
Sometimes this results in a refusal to supply financial disclosure...
Or an attempt to conceal bank accounts.
If your spouse has 6 bank accounts and international assets and multiple businesses...
This is probably reasonable.
If however, your ex has 6 bank accounts, is employed and has no apparent outside financial interests...
This is suspicious.
Sometimes people find their partner's hidden bank accounts, and are too scared to raise it...
But when the divorce comes along...
Suddenly their partner is shocked at what they know.
What are the flashpoint spending items?
Women
They tend to be predictable as follows:
Sexy underwear.
Botox.
Clothes.
Shoes.
Handbags.
Plastic surgery.
Expensive holidays for her and her friends.
The worst ones I have come across:
Kingsize bed for her lover... excuse... I am the lodger and I need a bed to sleep in... It was a one bedroom apartment.
Full set of china from Fortnum and Mason... excuse... He can have the original set as it was a wedding present... In the end she kept both.
Tummy tuck... excuse... Essential due to pregnancy 20 years ago.
Men
They are also predictable:
Gambling.
Pornography.
Gifts for new squeeze.
Expensive cars.
The worst ones I have come across:
Full set of teeth implants.
Buying a Chinese takeaway at 11.30pm when he was supposed to be with the children.
Breast implants for his girlfriend.
Escort services.
If you are not the one petitioning for the divorce...
It may come as a surprise...
And...
You cannot backtrack your spending.
If you are the one proceeding, your solicitor should advise you that all previous spending, for 12 months, or longer if the other side raise dissipation of assets...
Hence you can prepare.
What are the best tactics
Each individual circumstance is different, but...
It depends if it is in your longterm financial best interest to save money...
Or spend it.
Plus any items that you know will upset,
Annoy,
Or even enrage your spouse...
Pay for with cash if you are determined to buy them.
Carefully balanced negotiations and agreements can be thrown completely off course if the other side discovers you have bought something that completely upsets them.
An example:
Wife longs for diamond stud earrings... husband refuses to buy them for her...
but he buys some for his mistress.
The financial value of the item itself may not be what caused the harm...
It is the emotional impact.
So spend cautiously...
Unless of course your aim is to upset your ex.