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How to tell if your spouse is hiding assets

If you are starting the divorce process, you may be wondering if your spouse is holding out on you financially. Many people across America keep financial secrets from their spouses for a variety of reasons. When divorce is in the air, some decide to conceal assets rather than subject them to division.

Hiding money often sends up red flags. Catching them before the assets vanish beyond recall can help you protect your interests. Your attorney can advise you as to the best ways to track the money and prove the spouse's clandestine activities.

Unexplained withdrawals

If you notice your spouse withdrawing funds and refusing to provide explanations, he or she may be preparing to squirrel them away in an account you have no access to. Keep an eye out for solo trips abroad, as locations such as the Cayman Islands provide convenient ways to bank cash without the possibility of discovery.

Cutting off information

A spouse who redirects mail to a P.O. box or another address may be concealing statements from accounts you might know nothing about. You should also have the current passwords for all accounts so you can view statements. Refusing to discuss finances or disclose information should tell you your spouse is hiding something.

Deleting finance software

Many people use personal finance programs to keep track of their finances. Discovering your program mysteriously deleted or your computer "crashed" with no possibility of retrieving data should be cause for suspicion.

Business maneuvers

If your spouse owns a business, he or she may manipulate contracts and payments to temporarily decrease income and asset value. Some techniques include overpaying creditors, adding relatives to the payroll with the understanding of later reimbursement or postponing signing a contract that will bring in income.

Do not retaliate

If you discover indications of deception, the temptation to take some steps of your own might be strong. Avoid doing so without the advice of an attorney, as some actions may ultimately hurt you further on in the legal process.

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

She will take the time to understand your individual needs and develop a comprehensive solution to protect your rights and interests.

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