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Is your spouse trying to hide assets?

On Behalf of | Feb 15, 2023 | Family Law |

When going through divorce, asset division will usually take up the most time and cause a lot of stress for all parties involved.

Unfortunately, you might face more stress than usual if your spouse decides to attempt to hide assets.

Passive and active asset hiding

According to Forbes, many spouses may engage in asset hiding in both passive and active ways. Asset hiding typically involves one person attempting to either passively or actively hide a source of asset or an entire asset.

Passive asset hiding involves assets that are easily forgotten, such as airline mileage or country club memberships. A person hiding these assets will usually just refuse to remind you that they exist, hoping to keep the knowledge to themselves until the divorce gets finalized and they can take the asset.

Active asset hiding involves a person going out of their way to obscure the source or entirety of an asset. For example, a person may start spending more money on expensive objects with the plan of selling or returning them after the divorce and getting that money back.

Red flag behaviors

Thus, changes in financial and spending behaviors marks one potential red flag. Keep an eye out for any drastic reductions or increases in spending.

Another common red flag involves how your spouse handles letting you see their financial information. If you find your spouse suddenly showing great reluctance to share anything from tax documents to receipts, it could potentially indicate that they have something to hide.

Fortunately, you can take action to see if they do.

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