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What are warning signs of hidden assets?

On Behalf of | Oct 20, 2021 | Divorce |

When going through a divorce, it is hard to keep tabs on every single aspect of the split, especially due to the stress you surely undergo at the same time. Unfortunately, some spouses will try to take advantage of this stress and confusion and will attempt to sneak some assets through the cracks.

You can protect your share of property and asset division by keeping an eye out for red flags that may point to a spouse trying to hide assets.

Will they talk about finances?

Forbes examines the possibility of a spouse attempting to hide assets during divorce. First, pay attention to their willingness to share their financial information. You should not need to rely on a financial affidavit to get your spouse to share their income, expenses, assets and debt, especially in the midst of a divorce. If you notice a pronounced or increased unwillingness to share this information, it may show that they have something to hide.

Have their spending habits changed?

Next, mind their spending habits. One common method of hiding assets simply involves transferring them into a tangible physical property. In short, while you can split the money, you cannot get a television that your spouse bought with their own money in most cases of property division. Your spouse may take advantage of this, splurging on expensive personal items which they plan to return or sell after divorce to get their cash assets back.

If you notice these or any other suspicious signs, consider speaking with a divorce attorney. They can help you work with forensic financial analysts to trace any missing or suspicious assets and find hidden assets.