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Do you suspect your spouse is hiding assets?

On Behalf of | Jul 5, 2021 | Divorce |

A spouse may hide assets for many different reasons. They could fear financial instability. They could simply aim to keep you from “winning” by depriving you of your fair share of assets. Whatever the case, it can do you a lot of damage.

Thus, you want to keep an eye on potential red flags that may point to hidden assets. This can come in handy if you fear your spouse getting away with more than what they deserve.

Changes in behavior

Forbes examines the actions of spouses who may try to hide assets. Many will display behavioral signs that could point to potential trouble. For example, they may act furtively or secretively. They could also display anxiety and agitation, especially when matters of finances get brought to light.

They may also try to hide their financial information from you. They could refuse to show you receipts, checkbooks or more. They might even try to refuse after a court affidavit, but this is not a good idea for them, as it can result in a penalty and being held in contempt.

Changes in spending habits

Pay attention to their spending habits, too. There are two major tricks that many people turn to when hiding assets. They include relying on family or friends, and hiding assets in physical valuables. With the former, a person will often pretend to repay debt owed to someone they know. The person then returns the money to them after the divorce.

For the latter, this often involves buying big-ticket purchase items like vehicles, fine art or electronics. After the divorce, they will sell or return these items to get the money back.

If you notice any sign that makes you suspicious, consider contacting a legal expert. They can help you decide on your next moves.