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 Virginia divorce, both spouses are legally required to fully disclose their income, bank accounts, investments, real estate, retirement accounts, and liabilities as part of the property division and equitable distribution process. Unfortunately, some individuals attempt to conceal assets in order to receive more than they are legally entitled to. Even if your marriage was built on trust, it is important not to assume your spouse would never hide assets during a divorce. Common warning signs 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.
If you believe your spouse is hiding assets, do not wait until your divorce is finalized. An experienced Virginia family law attorney can investigate suspicious financial activity, uncover concealed assets, and take immediate legal action to protect your rights. At Tavss Flitcher, our divorce attorneys help clients navigate complex property division matters and work toward fair and equitable outcomes. Contact our office today to schedule a consultation and learn how we can help safeguard your financial future.
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