My Sister’s Husband Is A Financial Nightmare!!

First time poster here in this forum. Please excuse me if this is not the right forum.

My sister has been married for 32 years. Her husband, who has always been a good guy, has a severe gambling addiction involving the stock market. Over the years, he's made terrible financial & career decisions, and my sister has always been there to bail him out.

Recently, she discovered he's taken out multiple loans in her name without her knowledge to fund his stock market addiction. He's also misappropriated joint assets, like pawning their shared gold.

Steps she's taken so far: * Frozen her credit * Changed passwords for all online accounts * Updated her banking information

Additional steps I've suggested: * Close any joint bank accounts * File separate tax returns (since he's been handling them and she doesn't know the full financial picture) * Discuss the situation with their adult children (though she's hesitant) * Enable two-factor authentication on all her online accounts

Here are some questions I have: * Therapy: He's admitted to a stock market addiction that led to compulsive lying. Could therapy help him overcome this? If so, how can she encourage him to seek help? * Legal Implications: Taking out loans in someone else's name is illegal, right? What legal actions can she take? How can banks approve loans without proper verification? * Hidden Debt: The house is in her name, but he has access to her information. How can she be sure he hasn't taken out a loan on the house without her knowledge? * Other Potential Issues: Are there any other financial or legal issues we should be aware of?

She's devastated and even though there’s a thought about separation, she's worried about the impact on their adult children and the social stigma.

Our sister is the most important person in our lives. She's always been selfless, helping others and supporting her husband through his struggles. Now, she needs our support more than ever.

While we're disappointed in her husband's actions, we also want to help him overcome his addiction. However, our primary focus is on protecting our sister's well-being and financial security.

Any advice or guidance would be greatly appreciated.

PS: We are in Arizona.