Warning Signs that Your Spouse May Be Hiding Assets

 Posted on August 26, 2024 in Illinois Divorce

Divorce is often described as one of life’s most challenging experiences, and concerns about financial fairness during the divorce can complicate the process even further. A significant worry for many is whether their spouse is concealing assets from them in order to avoid a fair settlement. Sadly, this type of deceit is often more common than many think.

Recognizing the signs that your partner may be hiding financial resources is crucial for ensuring his or her behavior is identified and stopped and that a fair settlement, which can only be achieved when all assets are accounted for, can be pursued. If you are concerned your spouse is hiding assets from you, bring up these concerns with your lawyer.

Signs that Your Spouse May Be Hiding Money Before Divorce

Strange or Unexplained Changes in Behavior

Changes in your spouse’s behavior can often provide the first clue that something is not right. It may be a red flag if your spouse suddenly becomes secretive or defensive about financial matters. Pay particular attention to whether he or she frequently diverts conversations about finances or becomes anxious or aggressive when discussing upcoming expenses. Such changes in attitude may signify he or she is hiding something from you.

Inconsistency in Financial Documentation

Reviewing financial documents thoroughly is a major part of most divorces. Inconsistencies between your spouse’s reported income and lifestyle can signal hidden assets. For example, suppose your spouse claims to have a modest income but consistently spends lavishly on gifts or vacations; there could be something to investigate. Look for discrepancies in bank statements, tax returns, and investment portfolios.

Abrupt Changes in Financial Accounts

If you notice sudden changes in your spouse’s finances, particularly before filing for divorce, this may be a cause for concern. Large withdrawals, transfers to unknown accounts, or changes in investment behavior can indicate that your spouse is trying to conceal assets. Keep a close eye out for any signs of unusual financial activity.

Withholding or Evasion of Information

If you ask your spouse for financial information and he or she refuses to provide it or becomes evasive, this can be a significant indicator of hidden assets. Transparency is important in divorce proceedings, and a lack of cooperation can be a warning sign that your spouse may be up to no good.

Contact Our Kane County, IL Divorce Lawyers

Divorce does not have to feel like a one-sided affair, and being vigilant about financial matters can help ensure a fair outcome. If you think your spouse is hiding assets from you, you must act quickly. Remember, knowing the warning signs can make all the difference in securing your rightful share of assets during the divorce process. For legal help, contact the St. Charles, IL divorce attorneys with Weiler & Associates, Inc. Call 630-331-9110 for a private consultation.