Is your spouse trying to hide assets?

On Behalf of | Feb 27, 2023 | Family Law

Attempting to hide assets during a divorce is not recommended and is in fact illegal. However, knowing this does not stop some people from trying it anyway.

In such cases, it is best to know what sort of red flags to look for.

Changes in spending habits

Forbes discusses the impact of asset hiding on divorcees. Unfortunately, by doing this, a person ends up withholding valuable assets from their partner, which can affect things like child support amounts or spousal support payments.

It is easier to pick up on a spouse potentially hiding assets if they choose active asset-hiding methods and do not turn to digital or cryptocurrency first.

For example, have you noticed a spouse spending more money lately? This may seem counterintuitive, but it could actually point to a spouse trying to hide assets. One of the most common methods involves a person buying big ticket, expensive items with the intention of returning the item after the divorce gets finalized. They then get all of that money back.

Increased secretiveness

You may also tell through their behavior regarding and surrounding finances. For example, many people hiding assets will immediately grow more furtive about their assets in general. Some even get so paranoid that they do not even want to share basic information like receipts from stores.

These are two of the biggest and most noticeable red flags that a person may notice. If you spot these issues occurring, consider contacting a forensic financial analyst to learn about your options.