3 Indicators That Your Spouse is Hiding Assets

 Posted on August 11, 2023 in Divorce

Marriage is meant to be a relationship of honesty. When you suspect that your spouse has been hiding something, whether it is an investment account or an affair, it can be upsetting. It is fairly common in high-net-worth divorce for one spouse to be concealing assets from the other. In divorce, this is often because the spouse hiding assets is hoping to avoid providing their spouse with their share of the asset. There is also significant misunderstanding regarding what each spouse may and may not do with marital finances. Just because you were married does not mean that your spouse has the right to do anything they please with your joint finances. If you suspect that your spouse is concealing assets that you should rightfully receive a share of in divorce, it is important to mention your concerns to your divorce attorney. In many cases, you may be entitled to a share of the assets your spouse is trying to hide. 

Signs That Asset Concealment May be an Issue in Your Divorce 

Possible warning signs that your spouse is hiding assets may include: 

• Sudden spending increase - If it appears that your spouse is spending far more money than they used to, they may be funneling money into a secret banking or investment account. This is especially likely if your spouse has been withdrawing large sums of cash, even if they claim the money is for something or someone else. 

• Mail from unfamiliar institutions - If you have always banked at Bank A and invested with Firm B, there is little reason your spouse should be getting mail from Bank C and Firm D. If you are consistently finding pieces of mail from financial institutions you do not have an account at addressed to your spouse, this may be a sign that they have a secret account. 

• Evading financial questions - If your spouse suddenly starts responding to your efforts to talk about the marital finances with evasive answers, you may be right to be suspicious. A spouse who is hiding assets is unlikely to want to participate in in-depth discussions about the finances. 

If you notice signs like these, you should be concerned. Especially if you have already determined that you will likely divorce when the behavior begins, it could signal that your spouse is trying to take unfair advantage of you in the divorce. 

Contact a DuPage County Divorce Attorney

Goostree Law Group is committed to finding assets one spouse may be hiding during a divorce. Our skilled Wheaton divorce lawyers will do all we can to uncover any hidden assets you may be entitled to a portion of. For a complimentary consultation, call 630-364-4046. 

Source:

https://www.thestreet.com/personal-finance/red-flags-that-your-spouse-is-hiding-money-and-what-to-do-about-it