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10 Signs Your Spouse is Concealing Assets

Divorce can be a highly emotional and stressful endeavor. As a result, it is essential to protect your financial future by ensuring that your spouse is not concealing assets from you. Unfortunately, New Jersey divorce cases in which a spouse is concealing assets are surprisingly commonplace. This is why you need to be vigilant and watch for common signs that your spouse is concealing assets before or during your New Jersey marriage dissolution case. There are 11 rather frequently occurring signs your spouse is concealing assets, which we discuss with you in this article:

  • Spouse is secretive about finances
  • Spouse has multiple bank accounts you were not aware existed
  • Spouse’s spending habits suddenly change
  • Friends or family hold assets for spouse
  • Spouse makes sudden gifts
  • Spouse has Undisclosed Business Interests
  • Spouse is Secretive About Finances
  • Offshore Bank Accounts or Investments
  • Spouse claims sudden financial losses
  • Spouse suddenly starts paying down debts

A common sign asset concealment might be occurring is when your spouse is secretive about their finances and refuses to share information with you. This is a significant red flag that your spouse may be hiding something. If they are unwilling to discuss their finances, you need to take action to ensure that you are not left in the dark.

Spouse has Multiple Bank Accounts You Were Not Aware Existed

Bank accounts you do not know existed is nearly always part of a scheme of hiding assets. If your spouse suddenly opens new bank accounts or has accounts that you were not previously aware of, this may indicate that they are trying to hide money. You need to investigate this further.

Spouse’s Spending Habits Suddenly Change

Your spouse suddenly changes their spending habits and starts making large purchases might be an indication your spouse is concealing assets. If your spouse starts making large purchases out of the blue, this may indicate that they are trying to spend money before you have a chance to find out about it. Be on the lookout for any sudden, unexplained changes in your spouse's spending habits.

Friends or Family Hold Assets for Spouse

If you discover your spouse has friends or family holding assets for them, you may be dealing with a hidden asset situation. If your spouse has transferred assets to friends or family members, this may be an attempt to keep those assets out of the divorce settlement. Be vigilant and watch for any suspicious activity.

Spouse Makes Sudden Gifts

If your spouse suddenly gifts assets to friends or family members, your spouse maybe involved in hiding assets. It is important to investigate this situation further to fully flesh out what is going on.

Spouse has Undisclosed Business Interests

Undisclosed business interests oftentimes are signs of a spouse hiding assets. If your spouse has business interests that you were not previously aware of, they truly may be trying to conceal assets through these ventures. Be on the lookout for any sudden, unexplained business interests involving your husband or wife.

Offshore Bank Accounts or Investments

The creation of offshore bank accounts and making international investments can be the sign of a number of potentially nefarious activities. These may include intentionally hiding assets in anticipation of a divorce.

Spouse Claims Sudden Financial Losses

If your spouse suddenly claims that they have lost money in investments or business ventures, he or she may be hiding assets from you. Indeed, this is one of the most frequently occurring ruses used by a spouse who wants to conceal assets in anticipation of a divorce.

Spouse Suddenly Starts Paying Down Debts

Your spouse has suddenly started to pay off debts that you were not aware of. If your spouse is suddenly paying off debts that you were not previously aware of, this may be a sign that they are trying to reduce the amount of money that will be available for division in the settlement. It's important to investigate this further.

If any of these signs sound familiar to you, it is important to take action to ascertain whether or not your spouse may be hiding assets. You are well served to contact an experienced New Jersey divorce attorney who can help you uncover any hidden assets and ensure that you receive a fair settlement in a divorce case. Your divorce lawyer can help you obtain financial records and other evidence that may be necessary to prove that your spouse has been concealing assets. If you wish to have a free divorce consultation call (201) 845-7400.

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