A divorce can cause financial upheaval in both spouse’s lives. While couples who want to be fair with each other will try to split the assets and bills fairly—some people will attempt to secretly hide money, investments, and property when still at the contemplating divorce phase or during the divorce. If you are considering a divorce or are worried that your spouse wants one, you need to be aware of the warning signs that assets are being hidden to protect your interests.
What Are the Signs That Your Spouse Is Hiding Money or Other Assets?
In a divorce in Virginia, both spouses are supposed to accurately disclose their money, investments, real estate, and liabilities. However, some people hide assets in an attempt to receive more than they are entitled to. Even if your marriage was based on trust, you cannot blindly assume that your spouse would not to do this to you in your divorce. Signs that this is occurring include:
- Your spouse is secretive about money issues.
- Your spouse has complete control over the financial investments and bank account information and online passwords.
- Your spouse has a private post office box, especially if it is used for financial accounts and bills.
- You receive statements or correspondence for bank accounts or credit card accounts that you have no knowledge of.
- Your spouse has been significantly overpaying your credit card bill.
- There are automatic payments from a joint account to accounts that you are not familiar with.
- Your spouse takes out large withdrawals from joint accounts without your knowledge or any discussion.
- Your spouse purchases expensive items, such as artwork, cars, and antiques.
- Your spouse underreports his income if he is paid under the table or is self-employed.
- Your spouse pays fake debts that are often paid to a family member or friend who agrees to return the money to him.
An experienced family law attorney can help you investigate whether assets are being hidden and can take immediate steps to stop your spouse from doing this. To find out how our family law team can assist you, call our office to schedule your free consultation.