Hidden Assets During Divorce: Signs That Your Spouse Is Hiding Money

As the divorce comes the marital property is divided according to the local legislature. For example, New York couples will have their assets gained through the marriage divided equitably. Yet, if you have any concerns about the division failing to be maximum fair, the appropriate measures are to be taken. This can happen when, for example, your husband or wife hiding money wants to reach their vision of equitability in a corrupt way.

So, it is necessary to learn more about the signs that your partner is hiding money so that you can deal with the issue in time. The top common signs are as follows:

1. Total Financial Control

The very first sign which defines is your spouse hiding money from your 6 things to watch, is total control of your family finances on their part. If your partner has always been a control freak, you probably shouldn’t have any concerns. 

But if they suddenly get to monitoring all the money-related processes and issues in your family, you should get more attentive. Plus when both of you know the divorce is close and your soon-to-be ex wants to be the sole person to hold responsibility for all accounts, communicate with your family accountant, or process the transactions, it may be a red flag they want to hide some significant money-related data from you. 

2. No Desire to Discuss Family Finances

When you have any concerns about dividing finances fairly. Or you just prepare for your case and want to know whether you can afford the cost of divorce in New York. The reasons to discuss the financial situation in your family are numerous. But when your spouse is reluctant to talk about money, they change the topic, or ignore your inquiries, you should have no hesitations, but may be sure they are trying to hide something. And this is most surely connected with your family finances. 

3. Changes in Accounts Details

Another obvious signal that your partner may have hidden money and want to make some transactions before the divorce process starts is any changes in account details. Suppose you get restricted access to your joint accounts, credit cards, deposits, etc. Or you don’t receive regular e-mails, letters, reports, or checkouts from your bank anymore. This may mean your partner has changed the account credentials and other details so that you cannot track their suspicious activities. 

Plus, you may notice your spouse gets rid of programs and accounts on finances-related platforms so that you don’t find hidden assets online.

4. Major Gifts, Spendings, or Investments

Prepare for the fact that your spouse may get inventive and choose a way how to hide money before divorce which is not that obvious. So, if you have any related worries, you should watch them close and become alert if your partner:

• grants expensive gifts – they may be not gifts but agreements that your spouse will get the money back later after divorce;
• spends more than usual – if your partner makes a big purchase or overpays for something this means they try to hide some secret money they used to have;
• unexpected investments – your spouse may suddenly wish to make a major investment and then, unfortunately, lose everything or they may say so, But the truth is that they will return their money soon after marriage termination. 

These strategies are quite old and can be detected by any financial specialist. They are aimed at fooling you around about the real state of your marital assets and distributing the money for the benefit of your soon-to-be ex in a malicious way. 

5. Sudden Changes to Family Business

If your family owns a business, be alert to spot the hidden asset issue here, too. Although, it may be difficult for you to analyze the situation if you are not involved in any business process directly. You should look closely for the following signs:

• a set up of a new business
• drastic changes in the business structure, funding, etc.
• hiring new employees or giving raises (all that is discovered to be untrue in the result)
• investing much in business
• sudden deterioration in business affairs.

The more awkward your partner’s behavior about the business is, the more possibilities there are that your spouse is trying to hide assets from you.

6. Unexpected Trip

When your partner announces an unexpected business trip, it may be a signal for them hiding assets, too. Pay close attention when your spouse needs to travel somewhere out of the blue and they cannot explain what is the reason for it. This means your partner wants to move any assets to the international bank or storage abroad. Or maybe they want to sell some property, process any other transactions, and make an agreement that will result in them earning more after divorce in an unfair way. 

Conclusion

If you notice any unusual behavior on the part of your spouse when they sense a divorce close, analyze their actions for the signs of them hiding assets. Go alert when your partner wants total control of the family finances, introduces any changes to your accounts or business affairs, gives presents, makes major spending and investments, or decides to travel somewhere for no reason. Consult your attorney or financial specialists on the issue and find the best suitable solution together. This way you will be sure that the division of the assets during divorce is truly equitable.