When your relationship is no longer working and it’s clear that a divorce is on the horizon, many aspects of your life will change. One of the larger topics to think about is how your finances will look after a divorce because you could be potentially facing a huge lifestyle change. It’s crucial that assets from both parties are transparent, because the amount of money available will determine what steps each person takes after divorce.
But what if you think your spouse is hiding assets in an attempt to prevent you from receiving your fair share? You might think that he or she wouldn’t be capable of such a devious act, but sadly it happens more often than people think. Here are a few telltale signs that your partner might be keeping money from you:
You can’t access your bank accounts
Does your partner keep a tight hold on the finances, so much to the point that you have no clue how much money you truly have? If they are very secretive with banking account information and passwords, it might indicate that they are trying to conceal what money is available.
“The business is failing”
If your spouse is self-employed, have you been told that all of a sudden the business has taken a turn for the worse? This tactic is a very easy way for people to claim that less money is coming in, when in reality they are simply storing it elsewhere.
Paperwork is hastily shoved on you
If you’re not involved with your taxes, investments, and real estate holdings, yet find that your spouse is asking for a lot of signatures as of late, it might be a clue that he or she is looking to make changes that could hide some of your assets. When the documents are asked to be signed immediately because the accountant needs them, not giving you time to review them, it might indicate some suspicious behavior.
Bills stop coming in the mail
Your household bills typically come to your home address, but if they have suddenly stopped showing up, it might indicate that your spouse has a P.O. Box for all financial related correspondence or has elected to receive everything electronically to an email account you don’t have access to. This in itself might not be significant, but could lead to some questionable behavior.
Big ticket items are showing up
When a new flashy car shows up in your driveway or expensive trips are being planned, it’s usually an indication that there is more money available than you previously thought. While it might be nice to enjoy some of these luxury items, it should be a huge red flag that something is amiss.
Financial software disappears
Does your spouse handle the finances, only to one day state that the computer crashed or the budgeting software doesn’t work anymore? Not being involved in these tasks creates an easier opportunity for you to be left in the dark when it comes to tracking income.
If you are going through a divorce or are about to begin the process, be aware that it is considered perjury for your spouse to hide financial information from you and the court. Insist that a full discovery of all assets takes place during your hearing, so that all information will be disclosed.
Contact Alexandra Geczi Family Law today if you think your spouse is hiding assets and you need help getting your fair share of the marital income.