When you are preparing for a divorce, one of the processes ahead of you and your spouse is figuring out how to divide the assets. Sometimes when divorce is imminent, one partner will begin to hide assets to avoid having to part with them.
The Huffington Post refers to hiding assets financial infidelity. Here are some warning signs that your spouse is trying to keep you from receiving your fair share of the marital property.
Sudden cash withdrawals
If your spouse primarily used credit or debit cards in the past but suddenly switched to cash, this is a red flag. Cash does not leave a paper trail, so your partner could use cash to keep you from uncovering what he or she spends the money on.
Defensive behavior over money
If you have concerns and decide to confront your spouse about the finances, defensiveness could be your next clue that there really is a problem. Simple questions could feel like an attack to someone who is acting dishonestly. Suspicious behavior and evasive responses could indicate another red flag.
Spouses who are hiding assets may make unexplained purchases. You may notice new clothes or electronics, which could indicate that your spouse has a source of income that you do not know of.
Alternatively, it could mean that your spouse is charging up credit cards behind your back. Because the court also divides marital debt between spouses, extensive debts could be as devastating as hidden assets.
Bank and credit card statements may help you pinpoint missing money. The courts take financial infidelity seriously, so if you have evidence, a judge may adjust the asset division to keep you from losing your share.