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Signs the person you are divorcing is hiding assets

On Behalf of | Feb 17, 2022 | Divorce

Divorces tend to be messy. During especially bitter ones, each party fights over money or property. Some spouses will not hesitate to use underhanded tactics.

One trick divorcing individuals may try is hiding assets. It is in your interest to uncover this activity before heading into court. Know the signs that suggest financial impropriety is going on.

Overpaying the IRS

Rushing to get a government refund may be a signal your soon-to-be-ex is keeping dollars away. Your former partner may hoard the money that arrives from official bean counters.

Purchasing expensive items

Unscrupulous persons might buy luxury goods without your knowledge. Maybe your former partner wants these items, or the plan may be to sell them. Neither situation benefits you.

Creating a post office box

The person you are divorcing could be keeping financial information out of your sight. One way of doing this is by establishing a private mailbox. Contact a professional advisor the moment you uncover this is happening.

Depleting joint accounts

You may have cash in an account with both your names on it. Vindictive partners may start drawing down the balance without your consent. You no longer have a right to the cash that is gone.

Altering financial access

A major red flag is when accounts start changing without your permission. Passwords should never change absent full disclosure. Another sign is if you no longer receive bank statements. No matter your relationship status, you still have a right to records on monies that are yours.

Dissolving a marriage is expensive enough. It is even more costly when your former partner is cheating you out of hard-earned wealth. Stay aware of the warnings that deceitful moves are taking place.