Divorce is never an easy thing to go through, particularly if you are on bad terms with your soon-to-be ex-spouse. If the other individual has hostile intent to get more money in the divorce or harm you financially, they might be guilty of hiding assets.
Investigating such glaring red flags can add layers of complexity to the divorce process, but it may be necessary for ensuring a fair division of your marital assets. You can protect yourself by keeping an eye out for certain signs that your spouse may be hiding assets during your divorce.
1. Sudden withdrawals
Keep careful watch over your joint financial accounts during the course of your divorce. If any sudden or unexpected withdrawals occur, it could be that your spouse is trying to tuck some money away in secret.
2. Suspicious “gifts”
Be on your guard if your spouse starts giving away “gifts” or “loans” while you are in the midst of a divorce. This could be a cunning tactic to remove funds from the eyes of the court only to add them back to the pocket once matters are final.
3. Closing accounts
When you regularly have access to your spouse’s accounts but find that they no longer exist or have new passwords, this could be a red flag. While your spouse does have the right to their own private accounts, these sudden changes could indicate suspicious activity during a divorce.
Should it come to light that your soon-to-be ex-spouse is hiding marital assets during your divorce, the court may deem it an act of perjury. In addition to jail time, this felony crime also implies legal fees and other expenses that your spouse must pay.