Divorce

Signs Your Spouse Could Have Hidden Assets

When a couple makes arrangements for a divorce, each party must provide the other with details of their finances. This process is known as asset division, and both spouses must be honest about their assets to ensure a fair divorce settlement. Each party must fill out a financial affidavit – under the penalty of perjury – that is also filed with the court. In some cases, one or both spouses may resent sharing this information and try to hide assets. However, if a person is caught hiding assets in a divorce, the penalties could be severe. 

The following blog explores the implications of hiding money and assets during a divorce and the importance of contacting an attorney during a divorce. 

What are the signs your spouse is hiding assets?

In marriages, financial infidelity is when there’s dishonesty about money between spouses. It can happen because one spouse is trying to cover up a deeper issue, such as fear or lack of trust of the opposite spouse. In cases of divorce and complex property division, deceit can feel like a betrayal and  

According to a survey by The National Endowment for Financial Education (NEFE), 41% of adults in the United States who have combined finances with a partner admit to some degree of financial deception against a loved one.  Hiding money is deeply deceitful, and severely impacts marriages. If you think your spouse may be commit financially fidelity against you, speaking to a qualified lawyer can help produce a favorable outcome during a divorce. 

Here are a few signs your spouse may be hiding assets or money:

1. A spouse becomes irritable during financial discussions.
2. A partner begins to intercept mail or hide passwords to bank accounts.
3. A partner displays possessive behavior around money and financial information.
4. Changes account ownership(s).
5. Excessive spending over short periods of time.
6. Sudden loss or absence of money in bank accounts. 

If you suspect a loved one or spouse is hiding money, it is critical to speak with a qualified attorney immediately. 

Contact us for a consultation with our divorce lawyers today

When you need a family law attorney, contact SLG Family Law. Our attorneys are experienced and dedicated to providing the best possible representation for your case. We will help you understand your rights and provide legal guidance to protect your interests and achieve the best possible outcome for your family law matter. If you are going through a divorce and suspect your ex-partner or spouse is hiding assets, contact a lawyer today to discuss your options and create an action plan.

Contact us today to schedule a free initial consultation today to discuss your situation with one of our knowledgeable attorneys. We are here to help you during this difficult time.