Asset division serves as one of the most divisive and stressful parts of the divorce process for many couples.
However, some people will attempt to circumvent having to give up their fair share by hiding assets. How can a person tell if their partner has attempted to hide assets from them?
Passive vs. active asset hiding
Forbes discusses hidden assets in divorce situations. Asset hiding typically involves passive or active techniques.
For example, when it comes to passive asset hiding, this generally involves a partner simply refusing to remind someone about the assets that people usually forget about. This can include airline mileage, country club memberships and more.
The total of these hidden assets can rack up to thousands of dollars or more, so it is important to ensure that a spouse has not hidden assets through omission.
Active asset hiding typically involves someone putting effort into hiding their assets rather than simply refusing to remind a partner about them.
For example, someone who owns a business may hide assets by fabricating a false employee who they then “pay.” They instead keep the paychecks for themselves without ever reporting the money.
Warning signs to watch for
Red flags of asset hiding typically involve a partner’s behavior about financial matters. For example, they may grow more furtive, secretive and aggressive about protecting their financial information.
Additionally, their spending habits might change. If a person notices their spouse suddenly spending way more or less than usual, it could indicate that they are attempting to hide assets in some way.
