Maryland residents like you who are getting a divorce will need to keep an eye on your finances, especially if you have a high number of assets. This is because a spouse may be tricking you in order to hide assets so they don’t have to give you an equal share.
Forbes discusses why it is so important to keep a close eye on your assets during divorce. Sometimes, a spouse may take advantage of the fact that you have a lot of assets to keep track of by trying to hide some without you noticing. This is illegal, but that just means some people may use crafty tactics to get around the law.
If you notice your spouse start to act suspiciously regarding financial matters, this may be a red flag. If you or your spouse could see the divorce coming before you agreed on it, they might have even started hiding assets before the divorce process officially began. If you noticed them doing any of the following, it might be a sign:
- Refusing to share bank receipts
- Cashing out checks instead of depositing them into accounts
- Behaving in an anxious, suspicious or avoidant way when financial topics are brought up
- Increasing the amount of expensive purchases
- Paying back “debts” that you didn’t know the existence of before
Many tactics involve the use of turning assets into something else so they can be hidden more effectively, such as disguising them as repaid debts or buying items to re-sell later. If you believe a spouse is hiding assets from you, it may be worth looking into.