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Signs your spouse may be hiding assets

On Behalf of | Jul 28, 2023 | Divorce

When a couple heads for separation and divorce, one spouse may try to hide assets from the courts or the other spouse in an attempt to avoid paying the other spouse their fair share of the assets.

Here are a few signs that your spouse may be hiding marital assets if you are contemplating separation or divorce in Connecticut.

They keep papers from you

If a person who was previously open about sharing financial documents and online accounts suddenly begins to hide those papers and changes their online passwords, that is a big red flag that they may be keeping information from you.

They begin to withdraw a lot of cash

Because cash can be easier to hide than numbers on a bank statement, someone who is hiding assets may begin to liquidate those assets by withdrawing significant amounts of cash. If you are comfortable doing so, ask your spouse about the withdrawals to see whether or not they have a reasonable explanation for that activity.

They say they are helping family members

It is a noble act to help your family in times of need, but beware if there is a sudden uptick in the amount of money that your spouse is giving to family members. The family members could be helping to hide the money rather than simply accepting a generous gift.

By being aware of some of the signs that your spouse may be hiding assets, you can take the proper steps to protect yourself and your finances.