Kline Legal Group P.L.C.

3 signs your spouse may be attempting to conceal assets

The relationship between you and your spouse is growing increasingly strained, and you have a feeling a divorce is in your near future. At this stage in a marriage, one party may try to prepare financially for life after the marriage ends, and sometimes, spouses use sneaky methods to do so.

If you suspect your spouse might be moving around assets so that they will not factor in during divorce proceedings, know that he may take specific approaches in doing so. Watch out for these actions.

Taking advantage of "cash back" opportunities on purchases

When you shop at the grocery store or a big-box retailer, you might have the opportunity to take cash back on your purchase. If your spouse is trying to hide funds, he may start taking small amounts in cash back during these shopping trips. You may not notice the removal of these small amounts at all, or you may assume the money taken out went toward goods during the trip. Over time, however, this money can add up, giving your spouse a financial advantage.

Moving assets to a separate institution or account

Among the more common methods spouses use to hide finances from one another involve simply moving money to a separate account. Your spouse may try to open an account at a different bank or credit union than the one you share, and he may also direct mail associated with the new account to somewhere other than your shared address, such as a PO Box.

Transferring assets to a friend or relative

Your soon-to-be-ex may also unload assets to a friend or family member with some type of agreement that the individual will sell or give them back after the divorce becomes final. Once the assets belong to someone else, they no longer constitute marital property, meaning they are unlikely to factor into asset division.

These are only some of the financial indicators that your spouse may be planning a split. If you suspect your spouse is trying to hide assets from you ahead of a divorce, you may want to discuss your situation with a lawyer.

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