Financial Abuse is a Form of Abuse that is often overlooked in relationships. It occurs
when one partner has control over the finances, limiting the other person's financial
independence. Financial abuse is often used in conjunction with other forms of family
abuse, such as emotional or physical abuse. In this article, we will discuss what
financial abuse is, how to identify it, and what you can do to protect yourself.
What is Considered as Financial Abuse in a Family?
It is a form of abuse in which one partner has control over the finances, leaving the
other partner with limited financial independence. This can happen in a variety of
ways, such as limiting access to funds or assets, controlling how money is spent,
and preventing the other partner from working or earning money. Financial abuse
can happen in any relationship, regardless of gender, age, or sexual orientation.
A new government survey reveals that around 1.6 million Australian women have
had their money and job opportunities controlled or restricted by a partner, indicating
that one in six women in the country have experienced economic abuse.
An abuser may control the finances to prevent the other partner from leaving or
seeking help. They may also use financial abuse to maintain power and control over
the other person.
Financial Abuse in Family Matters can be difficult to identify, as the signs can be
subtle. Here are some common signs of financial abuse:
- Your Partner Controls All the Finances and doesn’t allow you access to any
funds. - Your Partner Restricts Your Access to Money and Assets, such as a shared
bank account or credit card. - Your Partner Monitors Your Spending and Questions all Your Purchases.
- Your Partner Forces you to Account for Every Penny You Spend.
- Your partner insists on being the sole breadwinner and prevents you from
working or earning money. - Your Partner Borrows Money from you without paying it back.
- Your Partner Takes Out Loans or Opens Credit Cards In Your Name without your
consent.
If you think you are a victim of financial abuse, there are steps you can take to
protect yourself. Here are some things you can do:
- Educate Yourself On Financial Abuse: Learn about the signs and the different
ways financial abuse can manifest. This will help you identify whether you are
a victim of financial abuse. - Open Your Own Bank Account: If you don't already have your own bank
account, open one in your name only. This will give you some financial
independence and control over your own money. - Document Everything: Keep a record of all financial transactions, including
bank statements, credit card bills, and receipts. This will help you keep track
of your finances and identify any discrepancies or suspicious activity. - Seek Professional Help: If you are in a financially abusive relationship, seek
help from a professional. This could be a therapist, financial advisor, or
lawyer. They can help you understand your options and develop a plan to
protect yourself. - Develop a Safety Plan: If you are planning to leave the relationship, develop a
safety plan. This should include things like finding a safe place to stay,
notifying family and friends, and having a plan for your finances.Why do you Need a Family Lawyer for Financial
Abuse?
If you are experiencing financial abuse in New South Wales (NSW), seeking the help
of a family lawyer can be an important step in protecting your rights and securing
your financial independence. Financial abuse is considered a form of domestic
violence and is a crime under the law in New South Wales (NSW). The Crimes
(Domestic and Personal Violence) Act 2007 (NSW) specifically recognizes financial
abuse as a form of domestic violence. Here are some ways a NSW lawyer can assist
you in cases of financial abuse: - Legal Advice: A family lawyer can provide you with legal advice on your
rights and options when it comes to financial abuse. They can help you
understand the different forms of financial abuse, such as fraud, coercion, or
control, and advise you on the best course of action to take. - Intervention Orders: A lawyer can help you apply for an intervention order,
also known as a restraining order or apprehended violence order (AVO), which can protect you from further abuse.
An intervention order can prohibit your abuser from contacting or approaching you and
can also give you exclusive use of your home or restrict your abuser and access to joint bank accounts.
- Property Settlement: If you are in a relationship that is ending due to financial
abuse, a lawyer can assist you in negotiating a fair property settlement that
considers the impact of financial abuse on your finances. They can help you
determine the value of your assets, understand your legal entitlements, and
represent you in court if necessary. - Divorce and Separation: Financial abuse can be a factor in divorce and
separation proceedings, and a lawyer can help you navigate the legal process
and advocate for your interests. They can help you understand the division of
property, spousal maintenance, and child support issues that may arise, and
can represent you in court if necessary. - Referrals to Support Services: A lawyer can connect you with support services
in NSW, such as Domestic Violence Helplines, Financial Counselling Services,
and Housing Assistance Programs. These services can provide you with
practical and emotional support as you navigate the impact of financial abuse
on your life.
Financial Abuse can have long-lasting effects on your financial stability,
independence, and emotional well-being. By seeking the help of a NSW lawyer, you
can take steps to protect yourself and secure your financial future.
In conclusion, financial abuse is a serious form of abuse that can have long-term
consequences for the victim. It is important to educate yourself on the signs of
financial abuse and take steps to protect yourself. If you are in a financially abusive
relationship, seek professional help and develop a safety plan. Remember, you
deserve to have control over your own finances and to live a life free from abuse.
When choosing a Family Lawyer in Sydney, it is important to consider factors such as
their expertise in the specific area of family law that your case involves, their track
record of success, their communication skills, and their approach to handling cases.
How Platinum Lawyers can Assist You in Cases of
Financial Abuse?
Platinum Lawyers is a Law Firm in Sydney that has experience and resources to
handle a wide range of family law matters. They offer a personalized approach to
each case and work closely with their clients to achieve the best possible outcomes
and are knowledgeable and empathetic to your situation. Their family lawyers
can work with you to develop a plan to address the abuse and protect your
financial well-being.
