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Is your spouse hiding assets?

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Is your spouse hiding assets?

On Behalf of | Oct 14, 2021 | Divorce, Divorce & Bankruptcy |

Have you noticed your spouse changing up their spending habits lately? Do they suddenly have a lot of debts they need to pay back? Have they grown more furtive in their tracking of expenditures and will not even let you see receipts anymore?

If so, then you may be dealing with a case of a spouse hiding assets during divorce. This issue serves as an unfortunately common point of frustration for many individuals like you, but you can take action against it.

Spending habit changes

Forbes discusses potential signs to look for when it comes to a spouse hiding assets. As mentioned, first pay attention to their spending habits. It may seem like pointless frivolous spending at first, or even spiteful spending to “waste money” before asset division occurs. However, many individuals will buy big-ticket items in order to transfer their money into physical, owned goods that do not undergo division. They plan on returning the item or selling it to gain the money back after the finalization of the divorce.

Pay attention to the way they act about their finances, too. If you come up against a lot of friction when asking after your partner’s financial matters, it may indicate that they have something to hide, like hidden assets.

Hiding assets within debts

Also, retain the wariness of any sudden debts they simply must repay, especially if these debts go to people they know. A common tactic involves giving money to relatives or friends under the guise of repaying debts and then taking that money back after the divorce.

Consider contacting legal help if you notice these red flags, as they can help you decide how to progress with your suspicions.

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