How can you tell if your spouse is hiding assets?

On Behalf of | Aug 14, 2019 | Family Law

If you are going through a divorce in Colorado, you can expect the assets to be split fairly and appropriately. There are some spouses who see a divorce coming and may turn to the unethical and sometimes illegal practice of hiding assets to make sure they do not have to share them in the divorce. The Good Men Project provides some clear signs that your soon-to-be-ex may be hiding things from you.

If your ex suddenly deletes programs used for financial accounting or claims that the computer with your financial records has crashed, you may want to investigate. When possible, some individuals will befriend a financial advisor suddenly to determine how to move money around successfully.

One thing you should watch for is for your spouse to transfer assets to a friend or family member before your divorce. They may have the intention of transferring it back after the divorce, so you do not get any part of it. If friends or family are posing as independent buyers, it may be time to do some investing. If your spouse suddenly reports a large decrease in the value of investments or business assets you may also want to look closer.

In marriage, it is common that one spouse pays the bills and maintains the bank account, but this can be dangerous once you are facing a divorce with a possibly dishonest spouse. If your spouse is opening new business or personal bank accounts, they may be doing that to move money around. Ask for passwords, banking information and bank account information as soon as you start discussing divorce.

Your spouse may also suddenly make excessive purchases which they will then sell after the divorce. They may make large withdrawals out of your account to hide the cash for after the divorce. Any time you feel as if your ex is unfairly hiding money or assets from you, it is a good idea to speak to a family law attorney.

This is intended for educational purposes and should not be interpreted as legal advice.