Financial abuse is something that constantly flies under the radar, however, it is generally the main reason that people will remain in an abusive relationship, especially if they have children to support.
In a nutshell, financial abuse is when a person takes over or impairs another person’s financial independence and often stripping that person of their financial resources. Some examples include denying a person financial independence, withholding financial support which is needed to meet reasonable living expenses, coercing a person to relinquish control over assets and/or their income and prohibiting someone from working.
Being able to identify signs of financial abuse is essential because it has the ability to give a person time to either restructure their financial resources or financially prepare themselves to leave a relationship.
Approximately 15.7% of women and 7.1% of men will experience financial abuse in their lifetime.
If you are experiencing financial abuse, we recommend contacting our offices to apply for a domestic violence order. A domestic violence order will assist you in protecting your finances and enabling you to take your next step to establish your independence.
Call us on 07 3209 7744
This article was written by Abigail Pugh LLB at Madsen Law.