Financial abuse in relationships

When the word “abuse” is heard most people would think of emotional or physical abuse. Financial abuse in relationships may not be the first thing that comes to mind, however, research and studies have shown that it occurs just as often as other forms of abuse.

A study by Centers for Financial Security found 99% of domestic violence cases also involved financial abuse. It is often recognized as the first sign of an unhealthy and violent relationship therefore identifying this form of abuse at first instance is important for your safety.

What is financial abuse? Financial abuse occurs when one person takes control of finances within a relationship to limit and/or control their partner’s actions. It may be to prevent them from leaving, to maintain power within the relationship or to control the partner’s lifestyle. Acts can range from using or spending money without permission to gambling with money or family assets.

Financial abuse can be crippling. It may leave a person without access to their own bank account/finances or with mountains of debt which has been built up by the abuser. It can often be small amounts to start with which can then escalate, so being aware of this at the earliest opportunity is essential.

What are the signs of financial abuse?

As the effects of financial abuse can be life changing it is essential to be aware of early signs. This may include the following:

  • Stopping a person from working
  • Controlling household finances including wages and bank accounts
  • Forcing the other person in the relationship to hand over wages and money
  • Persuading/forcing them to take out loans or debt in their name

What can you do?

Many banks/building societies have a voluntary code to tackle financial abuse and the government has introduced legislation to include financial abuse within domestic abuse to enable the prosecution of financial abusers.

If you are the victim of financial abuse, it is crucial for your safety to:

  • Find somewhere safe to stay
  • Report any abuse to the police
  • Take legal action

What can Verisona do?

Financial abuse covers a variety of activities, including mishandling finances and fraud; however it is also a violation of an individual’s rights relating to their financial affairs or assets.

We can help you identify possible or actual financial abuse in your relationship. Here, at Verisona, we have a knowledgeable and experienced team who will be able to advise and provide further help.


We have set out below a full list of the services our Family Department can provide whatever your circumstances. If you do however have a query which does not relate to any matter detailed below, please do contact our Family team who will endeavour to assist you.

Divorce or Civil Partnership Dissolution

Whether you are the Petitioner or the Respondent within proceedings or whether you are simply contemplating the same we can provide guidance throughout the entire process. We can assist with:

  • Drafting of documents
  • Negotiations with the other party
  • Correspondence with third parties such as the Court
  • Advice face to face, by telephone, by email.

Pre-Nuptial and Post-Nuptial Agreements

Whether you are planning to marry or indeed have now married and wish to formalise arrangements in the event of separation we can advise and assist with the following:

  • Drafting agreements
  • Negotiating settlement
  • Corresponding with all parties

Separation

Whether you are married or living together and in the event you decide to go your separate ways we can assist in formally documenting terms of separation. We can assist in the following ways:

  • Drafting Separation Agreements whether in contemplation of divorce or whether to simply record the split of a cohabiting couple
  • Negotiations with third parties
  • Providing you with advice whether face to face, by telephone or by email.

Arbitration

Arbitration is an alternative to resolving disputes through the Court. At Verisona Law we can assist in a number of ways either by assisting you through the Arbitration or by referring matters to our in house Arbitrator. We offer competitive arbitration rates and a member of our team will be happy to assist with any queries in this regard. Please see our current articles on Arbitration for more details about the process.

Cohabitees/living together

If you have chosen not to marry but wish to live together you may wish to formalise the arrangements and details for doing so. We can assist in the following:

  • Drafting cohabitation agreements/living together agreements
  • Negotiations with all parties
  • Advising you in person, by telephone or email as appropriate.

Divorce where Business are involved

We have extensive experience in dealing with breakdown of marriage where one or both parties are owners of businesses or indeed it may be the family business. We have experience in providing you with advice and signposting for business valuations and will ensure that the business as an asset is dealt with appropriately within any proceedings.

Pensions

In addition to being able to provide specialised advice in relation to Public Sector pensions our team at Verisona Law has vast knowledge concerning all pension arrangements and can ensure that they are dealt with appropriately within any divorce proceedings. Please seek advice from a member of our team.

Parental Responsibility

We are able to advise on all aspects of Parental Responsibility including:

  • Agreements / Orders
  • Exercising your Parental Responsibility rights and duties where appropriate
  • Arising out of Parental Responsibility we can advise on applications for a Specific Issue Order to the Court if appropriate.

If you have any queries concerning Parental Responsibility and its impact on you or indeed whether you have Parental Responsibility for your children, please seek advice from a member of our team.

Assisting through Mediation

Whilst we do direct a number of matters through Mediation, this does not mean that you cannot have legal advice throughout the process. We can advise and assist you through the Mediation process and arrange thereafter to draw up formally any agreement reached be this by way of a Consent Order in divorce proceedings or simply to record in an open document the agreement you have reached at Mediation concerning the subject of your dispute.

Property Disputes

Whether you are married or otherwise, or indeed simply have an interest in a property owned by another we can provide you with advice and assistance including;

  • Applications to the Court
  • Negotiations with all parties
  • Advising and assisting you face to face, by telephone or by email.

Collaborative Law

This is an alternative way to resolve family disputes without the involvement of the Court. The Collaborative process requires both parties to have a Collaborative Lawyer and endeavours to resolve any disputes by way of four way meetings. We at Verisona Law can assist you through the Collaborative process. If this is an avenue of resolving dispute that you would be interested in, please contact a member of our team.

Children

We at Verisona Law can provide you with advice and guidance concerning any disputes you may have relating to your child. This may be with whom the child lives, with whom the child spends time with, a specific issue concerning a child or steps that you wish to take to prevent something happening (Prohibited Steps Order). We can also advise you in relation to maintenance disputes with a third party guidance with dealing with the Child Maintenance Service. If you have a query with any issue concerning your child please contact a member of our team.

Change of Name

Please contact a member of our team if you are interested in changing your first or surname to discuss the drafting of a Change of Name Deed. We offer a fixed price for a Change of Name and we can provide you with further information upon request.

I went to Verisona Law because I had been unsatisfied with two previous attempts with other firms. Verisona gave that real sense of service, made.me feel like a client they were happy to assist at all times and ultimately gave the BEST advice and guidance. Dont waste money; go to Verisona FIRST!


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