Methods your spouse may use to hide property

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Methods your spouse may use to hide property

On Behalf of | Dec 11, 2017 | blog

If you believe you and your husband or wife are heading toward a divorce, you may have doubts about whether he or she is being honest with you with regard to finances, relationships and related matters. Often, marriages break down when spouses no longer trust one another, and if you are in such a marriage, you may have suspicions about your spouse hiding assets from you in an attempt to get ahead before the divorce.

Regrettably, spouses conceal assets from one another all the time, and particularly in situations where one spouse suspects the end of the marriage is near. Many spouses who do conceal assets choose to utilize similar methods in doing so; however, identifying these methods may help you catch your spouse in the act. If you suspect your spouse is hiding assets from you, know that he or she may do so by:

Taking “cash back” on debit card payments

You know how when you shop at grocery stores or other major retailers, they often ask if you want cash back with your purchase? Your husband or wife may begin pocketing, say, $20 or $40 on shopping trips with the hope that you will not notice the small deductions, or with the hope that you will assume the additional amount was part of the original shopping trip.

“Selling” items and assets to close friends

If your spouse suddenly unloads a prized motorcycle and sells it to a close friend, know that he or she may do so with an existing agreement in place with that friend. They may have already discussed having that friend sell or otherwise return the item once the divorce becomes official.

Delaying promotions or raises

Your spouse may also, depending on his or her work situation and existing relationship with his or her employer, intentionally delay any raises or promotions coming his or her way until after the divorce. That way, the additional money will not factor in during proceedings, alimony arrangements or child support orders.

If you suspect your spouse is hiding assets from you, do your homework. Otherwise, you may find that you do not receive your fair share down the line.

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