Top Signs Your Spouse is Lying About Income or Assets During Your Divorce

 Posted on September 21,2021 in Illinois Divorce

Financial disclosure is a crucial component of any divorce case. Although we like to think of marriage as a romantic partnership – It is just as much a financial partnership. When you get married, you and your spouse entangle your finances. Undoing this financial fusion during divorce can be difficult under the best of circumstances and extremely challenging when a spouse is dishonest. Whether you are only thinking about divorce, or you have already filed your petition for dissolution of marriage, signs of financial deception should be taken seriously. A spouse who lies about his or her income, assets, and debts can trick you into a divorce settlement that is grossly unfair.

You Are Kept in the Dark About Finances

Some married spouses pay bills and make other financial decisions as a team. Others delegate financial decision-making to one spouse while the other spouse handles separate responsibilities. If your spouse is suddenly reluctant to discuss finances with you or gets angry when you mention financial concerns, this may be a red flag. Rerouting mail, hiding financial documents, and deleting computer files or financial software like TurboTax and QuickBooks may all be signs that your spouse is hiding the truth.

Your Spouse is Making Unusual Financial Transactions

One of the most common ways that spouses hide assets during divorce is by transferring assets. Your spouse may loan money to a friend or make large withdrawals from the checking account. He or she may buy expensive art or other hard-to-value items with the intention of undervaluing the asset during divorce and selling it for case later on. Keep a close eye on your bank account balances and other financial accounts for unusual activity.

Your Spouse Suddenly Claims to Be Struggling Financially

If your spouse claims that he or she is suddenly struggling financially but his or her lifestyle does not reflect these alleged financial problems, this is a major warning sign. Some spouses try to manipulate the divorce by making their financial situation appear bleaker than it is. They may fabricate debts or exaggerate expenses. Business owners may delay invoicing vendors, pre-pay bonuses, or engage in other forms of financial trickery to make the business appear to be less successful than it is.

Contact a St. Charles Divorce Lawyer

Decisions regarding the division of marital property, child support, and spousal support should be based on accurate financial information. If you suspect that your spouse is trying to influence your divorce by lying about money, contact a skilled Kane County divorce lawyer from Weiler & Associates, Inc. for help. We can help you find evidence of financial deception and uncover the truth so you get the divorce settlement or judgment you deserve. Call 630-331-9110 for a confidential consultation.

Sources:

https://www.cnbc.com/2019/02/22/sniffing-out-an-affair-tax-returns-will-show-you-red-flags.html

https://www.forbes.com/sites/catherineschnaubelt/2019/03/08/finding-hidden-assets-in-a-divorce/