If you’re considering divorce, it’s essential to know that your ex-spouse may be hiding assets. By understanding the common tactics used to conceal assets, you can take steps to protect yourself during the divorce process.
Here are a few tips on finding hidden assets and ensuring you get what you deserve in your divorce settlement.
Signs your spouse has hidden assets
Dissolving a marriage can be a complicated and stressful process, made even more complicated if one spouse is not forthcoming about all the assets that need to be divided.
If you suspect your ex may be hiding assets, there are a few signs to look out for:
- Take note of any sudden changes in spending habits or lifestyle. If your spouse suddenly starts living extravagantly or has much more disposable income than before, it could be a sign that they are keeping assets hidden.
- Look for changes in job status or income. If your spouse quits their job or takes a significant pay cut around the time of the divorce, they may be doing so to prevent you from accessing their income during property division.
- Be on the lookout for any mysterious new accounts or property. If your spouse opens up new bank accounts or buys expensive items without explanation, they may be trying to protect those assets from being divided in the divorce.
If you notice any of these signs, you may consider hiring a forensic accountant. These people are specially trained to find financial discrepancies and are often used in high-asset cases.
If you discover that your spouse has been hiding assets, taking action as soon as possible is important. Discuss your situation with someone who can advocate on your behalf and ensure you receive the marital assets you’re due.