During a divorce proceeding, each spouse must make all of their assets known to the court so that the judge can oversee an equitable division of marital property. However, there is the possibility that your spouse might hide assets from the court in an attempt to exit the marriage with an unfair share of the property.
If it seems that your spouse might be hiding marital assets, it is important to make sure an investigation takes place so that you receive your rightful due in the divorce. By keeping an eye out for common red flags, you can have a better chance of seeing through any attempts to hide assets during your marital split.
Closing financial accounts
Your spouse certainly has the right to their own financial accounts, but unexpected behavior surrounding these accounts can indicate suspicious intent. If you typically have access to your spouse’s accounts, take heed if these accounts suddenly disappear or undergo a password change.
Sudden withdrawals
In addition to your spouse’s private accounts, you should pay particular attention to any joint accounts you possess. Unusual withdrawals could be an attempt by your spouse to hide away assets for later retrieval.
Suspicious business behavior
If your spouse is an entrepreneur, they might use their business as a tool for separating marital finances from the divorce. Unexpected losses and failed business expansions might occur purposefully for the sake of disguising the company’s true worth during a court-mandated valuation.
In a high-asset, high-conflict separation, it is not unusual for one party to stoop to any level in an effort to “win” the divorce. This behavior only serves to lengthen the proceedings and fuel more animosity between spouses.
