When dealing with a spouse attempting to hide assets, it is important to note what ways are the most popular to hide assets.
In addition, what red flags should you keep an eye out for?
Forbes discusses some of the most commonly overlooked assets. These assets often end up passively hidden during the divorce process. In other words, the spouse hiding the assets will simply refuse to remind their partner that the assets exist.
Easily-forgotten assets make up this category, such as country club memberships or airline mileage.
Some people choose to hide assets digitally in this day, too. Typically, a person will do this by buying bitcoin or another type of cryptocurrency with the intent to exchange it for their money back by the time the divorce gets finalized.
This is similar to a traditional method of asset hiding, which involves a person buying big-ticket and expensive items with the intention to return them after the divorce.
Red flags to watch for
Thus, one of the biggest red flags to keep an eye out for is a difference in spending habits or financial behaviors. Sudden restriction of spending and sudden increases in excess spending might both indicate that a spouse is attempting to hide assets.
On top of that, keep an eye out for furtive behavior regarding finances. A spouse attempting to hide something will usually grow extremely reluctant to share any financial information, including basic things like receipts.
If you notice such things, you may want to contact a forensic financial analyst to see if you can find evidence.