Ramsey hosts tell wife to act fast as husband steals $286,000 and lies on approval

A recent episode of “The Ramsey Show” featured a caller, Sarah, discussing a harrowing story of financial infidelity. Before getting married, Sarah amassed a net worth of $1 million. Due to the vast differences between her and her (now) husband’s net worth, they signed a prenuptial agreement in which he stated his net worth was $160,000.

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During their marriage, Sarah began to notice discrepancies in their finances. When she confronted her husband, he always assured her that everything was fine. After about three years of marriage, Sarah said a certain event caused her to put more pressure on him about their finances. That’s when he finally admitted that he stole from her.

Determined to get to the bottom of it, Sarah demanded access to her husband’s business accounts. Then the full extent of his treachery became clear. Her husband had stolen $286,000 from her accounts — money that was legally protected by their prenuptial agreement. To make matters worse, Sarah discovered that her husband had lied about the prenup, falsely claiming that his $160,000 net worth was free and clear when it came to loans and lines of credit.

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Sarah was in shock. Her husband had depleted his savings, leaving only two months of emergency funds, and had also racked up $130,000 in personal debt. To further complicate matters, the couple have two young children under the age of two, making Sarah’s decisions even more difficult.

Rachel Cruze, co-host of “The Ramsey Show,” expressed concern over the cheating Sarah had been dealing with for years. She likened betrayal to financial infidelity, equating it to the emotional damage of an affair. “You’re married to a liar,” Cruze said bluntly. “There is something wrong. Deeply, deeply, deeply wrong with him.”

Cruze laid it all out and told Sarah she needed to see a lawyer and start separating her finances immediately. Sarah revealed that she has already started that process and is working on a postnuptial agreement that will legally separate their debts and assets, ensuring that her husband’s financial irresponsibility will not jeopardize her and her children’s future. The postnuptial would reaffirm that his debts were his alone and that if he provided her with financial assistance, it would be repaid in full.

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Despite the overwhelming betrayal, Sarah hesitates to leave the marriage. “We have two very young children,” she said. “And I know the statistics about growing up in a broken household. I don’t want that for my kids either. They’re so young.”

Cruze advised Sarah to start counseling if she wanted to make the marriage work and said her husband would have to show a serious change in behavior if she planned to stay with him.

While Sarah’s story may have unique circumstances, financial infidelity is unfortunately common, especially among younger generations. A recent study by Bankrate found that more than 40 percent of US adults who are married or cohabiting have kept financial secrets from their partners.

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“It’s not always easy to talk about money, but it’s so important,” says Ted Rossman, principal industry analyst at Bankrate. “Financial secrets can take on a life of their own and undermine the relationship. In the years I’ve studied this, I’ve often found that the breach of trust has more of an impact than dollars and cents. If you have a secret spending habit or undisclosed debt or credit card or bank account that your spouse doesn’t know about, I think it’s best to come clean right away.”

If you are dealing with financial fraud or protecting your assets in a marriage, consulting a financial advisor can provide valuable guidance to secure your financial future and protect your interests.

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This article $1 million net worth shattered: Ramsey’s hosts tell wife to act fast as husband steals $286,000 and lies on his own appeared first on Benzinga.com

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