Asset hiding serves as a major problem in many different divorce scenarios. Unfortunately, it can make things very unfair for you if you fall victim to it.
What exactly do hidden assets look like? And what signs can you look for if you have any concerns about them?
Active and passive asset hiding
Forbes discusses hiding assets in plain sight. This form of asset hiding serves as a more passive way for a spouse to try getting away with an unfair share of marital gains.
Through passive asset hiding, a spouse will only need to keep information about certain easily forgettable assets to himself or herself until the divorce finalizes. Then, they can take the asset to keep without dividing it.
Active asset hiding usually involves more extreme and noticeable measures, however. This is the type of asset hiding you are most likely to discover because of that.
Watching for warning signs
The first thing you want to keep an eye out for is notable changes in your spouse’s spending behaviors. Have they suddenly increased or decreased the amount that they spend by a drastic or notable difference? It might indicate that they have chosen one of two main methods to hide assets.
Keep an eye out for how they react when you want to share financial information, too. It is harder for someone hiding assets to be open about their finances. If you ask to see documents or receipts, they may refuse to show you unless you get an affidavit.
If you notice any of these behaviors, you can potentially take action in order to protect yourself and your assets.