Secretive Spouses when dealing with finances

Karin Price Mueller responds to FAQs on NJ.com’s ASK BIZ. When asked about how to handle secretive spouses when it comes to dealing with finances and insurance. Karin contacted Family Law attorney, Kenneth White.

red-flagQUESTION:

My husband is very secretive about his finances. We own a home and a condo, and we had a flood in the basement of our home. After this, I learned my name was not on the homeowners policy for our home. It was originally. I pay for the condo maintenance and taxes, while he pays the condo insurance and water bill. He makes the payments on our home.

A check came for the damages to the home and he cashed it without fixing anything. It’s been five months already and if I ever I bring up money, he just yells obscenities. I’m concerned my name may not be on the condo insurance. What are my rights? Do I have any claim to the insurance money with a policy bearing only his name?

ANSWER

First off … RED FLAGS… the woman should investigate what changes her husband is making. Is she still on the deed? She should speak with the insurance companies.

Ken White says “While you cannot secure payment directly from the insurance company that sent a check for the damages, you have a right to share in the benefits recovered by your husband”.

“With that in mind, if you are finding that your husband is manipulating your assets in secret you may want to consult with a divorce attorney to secure a greater understanding regarding all your rights,” he said.

To read the full article “How to handle secretive spouses when it comes to dealing with insurance“.

ABOUT Ken White, ESQ

Kenneth White is a partner in the New Jersey law firm Shane and White. Ken White’s legal practice includes Family Law and Divorce.