You may be surprised to find out that spouses hide assets more than you could imagine. If you are going through divorce, you want to avoid being the victim of this type of fraud that can have an affect on the rest of your life. You want what is fair for both of you during the divorce process, so today we will look at some of the clues that assets could be hidden from you.
Signs That Assets Are Being Hidden
Bank Account: If your soon to be former spouse is secretive about their financial affairs or demands that they keep control of bank account information and online passwords, this could be a red flag. If you have joint accounts, you should both be equally involved in these assets.
Acting Pushy: You may not want to picture your spouse working against you to hide assets, but sometimes they are doing just that. If they act pushy when looking to obtain your signature on documents, this could be a sign. This is why, if you have to sign documents, you should always review them with your attorney first.
Binging: Is your spouse binging on expensive items, like new jewelry or new cars? This could be a telltale sign, especially if they have never done this before.
Bank Accounts: It is also a sign when your spouse starts opening several bank accounts without a reason for having so many.
Why Does This Occur?
When you are going through divorce, you should both be working toward a financial objective that works for both of you. However, this is not always the case. If your spouse is not looking out for your best interest, then they are probably hiding assets, overstating debts, or reporting lower revenue than they actually make to conceal how much money they should owe to you in divorce.
It never hurts to look out for these simple signs to protect yourself in your time of need. Divorce is a hard time, and hiding financial assets could make the situation even more difficult. We can help you in your time of need, so call us for more.