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Is your spouse hiding assets?

On Behalf of | Apr 12, 2024 | Divorce |

You may have expected your spouse to be upset about your divorce, but you probably didn’t expect them to suddenly become so hostile about dividing up the marital assets. 

While most divorcing couples hope for an amicable split, some spouses will resort to less-than-honest tactics to gain a financial edge in any settlement. There are several “red flags” that could indicate your spouse is hiding assets. These include:

Unexplained changes

If your spouse suddenly starts exhibiting unusual financial behavior, such as making large cash withdrawals, transferring funds between accounts frequently or opening new accounts without explanation, it could be a sign that they are attempting to conceal assets. Keep an eye out for any unusual transactions or investments that your spouse makes, especially those involving offshore accounts, cryptocurrency, or complex financial instruments. These could be signs of attempts to conceal assets or move funds out of reach.

Missing documents

Has your spouse suddenly become evasive when asked about financial documents? If bank statements, tax returns, investment records or business documents are suddenly removed from their usual storage spots, you should be concerned. If they’re unwilling (and claim to be unable) to provide complete financial disclosures for the divorce process, that’s another troubling sign.

Sudden debts

A sudden increase in debt, especially if it cannot be explained by legitimate expenses or investments, may indicate that your spouse is trying to reduce the apparent value of their assets by creating fake debts, issuing “loans” to cohorts or paying invented bills as a way to hide away some money.

Divorce can be difficult – especially when your spouse doesn’t want to play fair. If you think that your spouse may be hiding assets, the smartest thing you can do is start taking notes and gathering up your financial records so that you can get personalized legal guidance.