The most contentious aspect of many divorces is the division of marital assets. Your spouse might try to come out of the divorce with an unfair financial sum by hiding assets from you and the court.
There are a number of tactics an individual might employ to prevent a split of their bank accounts or other assets during divorce proceedings. If you know what signs to look for, you will be well-equipped to tell if your spouse is keeping something hidden.
It is not so uncommon for a spouse to adopt new behaviors during a divorce, but some activities can be particularly suspicious. Be particularly mindful if your spouse becomes aggressively defensive around the topic of money. Some actions to watch out for might include:
- Sudden withdrawals from joint accounts
- Hiding money under the guise of “gifts” or sudden “loans”
- Closing accounts or changing passwords
Using a business
If your spouse owns a business, they might use the company to distance certain assets from the divorce. They might even attempt to change the structure of the business to prevent its division as a marital asset. Keep an eye out for any sudden losses or “failed ventures” which could be artificial attempts to mask the company’s actual value.
In an amicable divorce, the priority should be mutual happiness or the best interests of any children involved. Unfortunately, some divorces devolve into competitions over who can walk away with the most money. It is important to keep your spouse from pulling the wool over your eyes in an attempt to “win” your divorce.