Hiding assets during a divorce is not only unethical but also illegal. You should understand the signs that your ex may be hiding assets to ensure a fair and equitable distribution as part of your divorce settlement.
There are several signs to watch for.
1. Sudden changes in spending habits
One of the most common signs that your ex is hiding assets is a sudden change in their spending habits. This can include making unexplained large purchases or withdrawals as well as transferring money to friends or family. They might also claim a sudden decrease in income or assets. If you notice any of these behaviors, it may be a red flag that your ex is attempting to conceal assets.
2. Reluctance to provide financial documentation
During the divorce process, both parties must disclose all financial information, including income, assets and debts. If your ex is reluctant to provide this documentation or is consistently “forgetting” to bring the necessary paperwork to meetings, it may be a sign that they are hiding something.
3. Unusual business transactions
If your ex owns a business, pay close attention to any unusual transactions or changes in the company’s financial status. This may include a sudden decrease in the company’s value, creating a new business entity or transferring business assets. These actions may be an attempt to shield assets from the divorce proceedings.
If you suspect that your ex is hiding assets, document any suspicious activity and ask the court for an evaluation. This can help uncover any potential deceit.
