A spouse may decide to hide assets for any number of reasons, ranging from a fear of financial insecurity to a desire to spite their partner.
However, asset hiding is illegal and can create major barriers to a fair and comfortable lifestyle for said partner. It is thus important to know what sort of red flags to keep an eye out for.
Paranoia about finances
Forbes talks about ways to find hidden assets in divorce. First, keep an eye on a person’s behavior regarding financial matters. Many will grow more paranoid when it comes to their finances, refusing to share even the smallest scrap of information willingly. They may even try to ignore affidavit orders, though this is illegal and they can be taken to court over it.
Changes in spending
Next, watch for changes in spending behaviors. Depending on how they want to hide their assets or what assets they wish to hide, they may drastically alter the way they spend their money. They could either drop superfluous spending entirely or they may ramp up the expensive purchases to a notable degree.
Passive asset hiding
It is also a potential red flag if a person notices that their spouse is not mentioning assets that they may have remembered while their partner forgot about it. This includes assets that typically get shoved onto the backburner in divorces, like airline mileage or club memberships.
If someone notices any potential warning signs of hidden assets, they should consider taking action to look further into the matter so they can ensure their fair share.
