As you start the divorce process, you want to make sure that all of the assets are honestly reported to the court. It's the only way to get a fair judgement.
What should you watch out for? Below are a few things that can be red flags, tipping you off that your spouse may be hiding assets.
- There is no communication. Your spouse won't talk to you about the financial side of the divorce. Questions go unanswered. Emails and text messages are ignored.
- Communication is secretive. Your spouse talks to you, but always stays away from certain subjects or tries to steer the conversation away from finances. It feels like he or she is being more secretive than you've ever seen during the marriage.
- Unexpected claims. When you were married, your spouse always had plenty of money and never really talked about it. Now that you're getting divorced, he or she starts talking about being broke and having nothing.
- There is strange activity on online statements. Your spouse may have been spending a lot more than usual on credit cards or making many unexplained withdrawals from the bank. Any changing habits that are obviously outside the norm are concerning.
- Your spouse had an affair. Often, people will try to hide money being used for the affair or they'll even use their romantic partner to stash assets aside.
None of these red flags mean that your spouse is definitely hiding assets. There could be other explanations. But they help you know when it's time to dig a little bit deeper and look into all of your legal rights.
Source: Guyvorce, "What To Do If Your Spouse Is Hiding Assets During Divorce," accessed Dec. 22, 2017