Telltale signs that your spouse is hiding assets in your divorce
Divorce can be a challenging and emotional process, especially when it comes to dividing assets. In some cases, one spouse may even attempt to hide assets to gain an unfair advantage in the settlement.
If you suspect that your spouse is hiding assets, you need to protect your rights and ensure a fair divorce settlement. This starts by knowing the telltale signs that can give away your spouse’s malicious behavior.
One of the most apparent signs of asset concealment is an abrupt change in your spouse’s financial behavior. If they start hiding bank statements, credit card bills or investment account details, it could be a red flag.
Sudden changes in spending habits
Drastic changes in spending habits can be cause for concern. If your spouse begins making unusually large purchases, taking extravagant vacations or transferring money to friends or family members, they might be trying to hide assets by spending them.
Another sign to watch for is inexplicable debts or loans. Your spouse might fabricate debts to divert assets, making it appear that they have less to contribute to the divorce settlement.
Changes in business practices
If your spouse owns a business, pay close attention to changes in its financial practices. They may reduce the company’s profitability on paper or create fictitious expenses to lower the business’s value.
Studies suggest that while 90% of divorces or more end uncontested, many do not start that way. If you are in a contentious relationship with your spouse as the divorce process begins, it can be in your best interest to watch for signs that they are keeping assets from you.