4 signs your spouse may be hiding assets

On Behalf of | Mar 19, 2019 | Uncategorized

 You did your best to make your marriage work. While you made a good faith effort throughout your union, your spouse may be showing signs of deceit. If you think your husband or wife is hiding assets during divorce proceedings, you may need to act quickly to ensure you get your fair share

Unlike many other states that require family law judges to divide marital assets evenly, Michigan takes an equitable distribution approach. That is, the judge in your divorce case should divide marital assets in a fair way. As you may suspect, if your spouse hides assets, the judge may not know what is equitable. Here are four signs your spouse may be hiding assets from you: 

1. Your spouse does not collect all income due 

Your partner may be eligible for a bonus, residual pay or other income. If your soon-to-be-ex decides to wait to collect profits due until after your divorce, you may not have a realistic picture of how many marital assets you have

2. Your spouse opens a separate account 

You and your spouse probably have a joint checking account that you use to pay bills. You may also have a savings or other types of accounts. If your partner opens a separate account without telling you, he or she may be hiding assets. 

3. Your spouse has unexplained expenses 

Whether you watch your finances closely or leave bill paying to your spouse, you probably have some idea about where your money goes. If your soon-to-be-ex suddenly has outstanding obligations he or she must pay, you may need to ask some questions about whether the expenses are legitimate

4. Your spouse changes the way you receive statements 

You probably receive monthly account statements that tell you how much money you have in various places. As you probably know, banks allow customers to receive statements in a few different ways. If your partner changes the way you receive statements, he or she may be trying to disguise improper financial behavior. 

Your divorce may not be simple. Still, you should be able to rely on your current spouse to provide you with truthful information about your marital finances. If you notice signs that your spouse is hiding assets, you may need to take additional steps to be certain you receive your fair share.  

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