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Is your spouse concealing assets during divorce?

On Behalf of | May 24, 2022 | High-net Worth Divorce |

Splitting assets with your spouse during a divorce can trigger all types of emotions. Often the process of determining who gets what takes time and requires flexibility and sacrifice.

If your spouse decides to conceal assets, your effort to get what belongs to you could drag out even longer. Knowing some signs of dishonesty can help you protect your portion of the settlement.

Missing money

If your spouse manages the money in your relationship, see what you can do about gaining access to shared accounts. Record login information in a secure place. If possible, print out statements that show the value of shared accounts. Regularly check joint accounts and know when money comes in and goes out. This kind of vigilance can help you identify when money goes missing.

If you notice large sums of money disappear without a logical explanation, you might want to dig deeper. Similarly, if you know your spouse earned a large commission, for example, and it does not reflect in your bank account, it could indicate that your spouse concealed it elsewhere.

Restricted access

Your split will already cost you quite a bit of money. In fact, according to U.S. News, divorce can easily surpass $15,000 in some instances. As such, you will want to optimize your resources and acquire the best settlement possible. If your spouse locks you out of joint accounts or restricts your access, it could indicate unauthorized activity. If you do not have access, your spouse might think you will not notice concealment of shared financial assets.

Identifying whether or not your soon-to-be-ex has concealed assets may require the help of a professional. Knowing where your money goes can help you protect what rightfully belongs to you.