When going through a divorce, it is not unusual for sore feelings to cause people to act in a way unlike themselves. Sometimes, a spouse might even up feeling hurt enough that they think you do not deserve your share of assets.
This – along with other potential reasons – can lead to your spouse attempting to cheat you out of assets when you divide them. But how do you tell if that is happening to you?
Why do they hide assets?
Forbes takes a look into the real risk of a spouse hiding assets during divorce. Spouses hide their assets for many reasons, including feeling as though you do not deserve any and having a genuine fear of maintaining the quality of life after a split.
Regardless of the reason, hiding assets is an illegal move that makes life unnecessarily difficult for you during and after a divorce. Thus, you should keep an eye out for potential red flags that could warn you of any attempt your spouse might make to do so.
What to watch out for
First, pay attention to changed habits. This can include habits in spending, as well as the way they manage and share their financial information at home. Generally speaking, more furtive and secretive behavior could indicate more things to hide.
As far as spending goes, a common asset-hiding tactic involves buying big purchase items to return or re-sell after the divorce. This allows them to keep the money without actually having the asset in the form of money, sparing it from division.
If your spouse seems reluctant to share monetary information with you or starts making big purchases, these could both serve as signs that they may want to hide assets from you.
