If you are going through a divorce with significant assets, one concern you may have is that your spouse is going to try to hide some of those assets. Their goal is simply to keep from having to divide the assets with you during marital property division.
From a legal perspective, your spouse is required to give a full disclosure of all assets they own and should not hide anything. But because people do so anyway, it can be helpful to know what red flags to look for as you proceed.
1. They suddenly “remember” an old debt
In some cases, a spouse may look for an excuse to transfer money to a close friend or family member, such as remembering an old debt that they never paid back. The truth may be that the debt never existed, but they have an arrangement with that person to return the money after the divorce.
2. They stop getting bonuses or commissions at work
If your spouse makes a significant amount of their money through commissions and bonuses, and those stop coming in, it may be that they are delaying the payments. If they get paid as normal, they have to split the earnings with you because they earned that money during the marriage. So they may ask their boss to pay their commissions all in a lump sum after the divorce.
3. They make new transactions with complex assets
You also just need to keep an eye on any bank accounts, investment portfolios and other financial accounts to see if there are new and unexpected transactions. The more complex your assets are, the easier it is for someone to obscure the paper trail, perhaps transferring money into hidden or undisclosed accounts.
If you do believe your spouse is hiding assets, then you must understand what legal steps to take moving forward.