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Is your spouse hiding assets?

On Behalf of | Oct 1, 2021 | divorce | 0 comments

When going through a divorce, it is possible that one spouse may try to take advantage of the stressful and frenetic environment for their own personal gains. This often happens in the case of asset hiding.

But how can you tell if a spouse is hiding assets? And what should you do if you find proof that they are?

Reluctance to cooperate

Forbes discusses ways that you can locate hidden assets in a divorce. First, pay attention to your spouse’s behavior, especially when it comes to finance-related matters. Do they suddenly display unnatural reluctance to let you see financial documentation, including receipts? This could act as your first sign that something is amiss.

Next, observe their spending habits. A common tactic regarding asset-hiding involves transferring those assets to other people or changing their form. For example, your spouse might say they have debts to repay. In reality, they hand off large chunks of money to family or friends, and those same people will simply return the money after the finalization of your divorce. This way, they avoid having to factor it into property division.

Changes in spending habits

They could also suddenly buy numerous big-ticket purchases, like pricy electronics or expensive art, equipment or vehicles. They do so with the intent of selling or returning the items after the divorce, thus keeping the money for themselves without sharing any with you.

You can also check locations a spouse might hide physical cash in, too. This can include a home office, their vehicle, or a location you do not usually frequent. If you find anything that might hint at hidden assets, consider contacting a forensic financial team, too. They can really help you dig in and discover the truth.

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