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Is your spouse trying to hide assets?

On Behalf of | Aug 26, 2021 | Divorce, Property Division |

Going through a divorce is already difficult enough even if you have an amicable split with a mediator instead of a contentious and draw-out parting. Unfortunately, sometimes your spouse may have a direct hand in making things harder than they need to be.

This is the case when a spouse attempts to hide assets, depriving you of your rightful share. What are the warning signs that you need to keep an eye out for?

Changed behaviors and spending patterns

Forbes discusses ways to find hidden assets in a divorce. First, you will likely notice “off” behavior, especially when it comes to financial matters. For example, a spouse may get furtive and secretive about everything including their receipts, refusing to show you anything unless you have a court order.

Next, you may notice they have changed their spending habits. In particular, you might notice them indulging inexpensive purchases more often. This is a common asset-hiding tactic that people use to transition their money into physical, owned items. After the divorce, most people will sell or return these expensive items to get their money back, never having to divide it with you.

A spouse may hide actual physical cash, too. Common locations for hidden cash include personal vehicles, home office spaces, private rooms such as gaming rooms, or at their place of employment.

Repaying false debts

Another common tactic involves pretending to repay a debt. They will give a large sum of money to a friend or relative, claiming to be paying back an owed amount. This person then holds on to the money until after the divorce, at which point they give it back.

If you notice any of these signs, it could help you to have a forensic financial analyst working on your side. They can point out and track down discrepancies that you can use against your spouse to protect your share of assets.

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